FR Lecture 1

May 8, 2026

Upload by Levi

FR Lecture 1 focuses on practical financial reporting and accounting for tangible non-current assets under IAS 16. It covers the calculation of an initial factory cost including directly attributable expenditures, allocated overheads, employee benefits, abnormal production overheads, and capitalised borrowing costs, as well as provisions for dismantling and restoration discounted using a specified rate. Additional sections explain depreciation methods and timing changes, component depreciation for assets with replaceable parts, asset cost capitalisation from overseas including allowable deductions and partial use of materials, and freehold land revaluation accounting under varying revaluation outcomes. The lecture concludes with broad principles separating capital vs revenue expenditure and addressing initial and subsequent measurement.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

May 8, 2026

Upload by Levi