Which of the following is an IAS 16 disclosure requirement for each class of property, plant and equipment?
The measurement bases used for determining the gross carrying amount
The depreciation methods used
The useful lives or depreciation rates used
All are correct
The gross carrying amount and accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period
All of the following are correct and are required disclosures under IAS 16 Property, Plant and Equipment for each class of property, plant, and equipment:
- The measurement bases used for determining the gross carrying amount
- The depreciation methods used
- The useful lives or depreciation rates used
- The gross carrying amount and accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period
These disclosures provide transparency into the key assumptions, methods, and values related to an entity's property, plant, and equipment, allowing users of the financial statements to better understand the basis for the amounts reported.
