startxref x���A 0ð4�)�8��z�� X�M��/��x���C. ںT��R���谭K>D^�rt���&.cN����.&�h�la���e��Ӳ��*�J.�gB7��G� 0000002882 00000 n As described in PBE IPSAS 17 paragraph 54, the increase or decrease will need to be recorded in other comprehensive revenue or expense. PBE IFRS 9 Financial Instruments , an interim standard which will be superseded by 1797 15 Prescribes the accounting treatment for property, plant and equipment. … ,6h�|mҬ��Fu�)N=@%�D��J7�h�Q� 2e���$ ��L~�� P� 18: Paragraph 17, NZ IAS 24 Related party disclosures. The last revaluation performed by the District Council was 1 July 2017. PBE IPSAS 17.88 Movements in Each Class of PPE The financial statements shall disclose, for each class of property, plant and equipment recognised in the financial statements for both the current and prior period. 2015; amends PBE IPSAS 12 changing ammunition to military inventories, and PBE IPSAS 17 changing specialist military equipment to weapons systems. Agricultural produce growing on bearer plants (e.g., fruit growing on a tree) will remain within the scope of PBE IPSAS 27. %PDF-1.4 %���� ,�h^h �r�U�D@��e +)�*��2�m��+���a��;rF���Kz!R�D�D^��\�jŨT�- C�k'�m�N�=�u�_�,��S�qN�9�}+L $�Hp004�I0��QH�H3 PBE IPSAS 17: Property, Plant and Equipment, requires that valuations are carried out with sufficient regularity to ensure that the carrying amount does not differ materially from fair value. 0000001852 00000 n to PBE IPSAS 17 Property, Plant and Equipment for a class of assets, such as buildings, so that it can revalue that class of assets, or an entity may decide to opt up to the financial instruments standards (PBE IPSAS 28 Financial Instruments: Presentation, PBE IPSAS 29 Financial Instruments: Recognition © 2020 PBE IPSAS 1 paragraph 47 states that a specific disclosure requirement in a PBE Standard need not be satisfied if the information is not material. The International Public Sector Accounting Standards Board® (IPSASB®) works to improve public sector financial reporting worldwide through the development of IPSAS®, international accrual-based accounting standards, for use by governments and other public sector entities around the world. Amending PBE IPSAS 17 Property, Plant and Equipment and PBE IPSAS 27 Agriculture was done to permit the recognition of bearer plants under PBE IPSAS 17 and agricultural produce under PBE IPSAS 27, and in making this change permitting the change to be made on a retrospective basis. revaluation model in accordance with PBE IPSAS 17 Property, Plant and Equipment rather than at fair value with changes in fair value recognised in surplus or deficit under PBE IPSAS 27 Agriculture. 0000004048 00000 n to PBE Standards Amending PBE IPSAS 17 Property, Plant and Equipment and PBE IPSAS 27 Agriculture was done to permit the recognition of bearer plants under PBE IPSAS 17 and agricultural produce under PBE IPSAS 27, and in making this change permitting the change to be made on a … PBE IPSAS … The future application of these standards to N��x428�1lg{�������nJ3,dxP���C)4�g00 �B)��Ae&����4�.8�08 �Y&��@�y�4��9�z�����o@� � A��9 PBE IPSAS 17 Property, Plant and Equipment PBE IPSAS 17 contains integral guidance on the use of depreciated replacement cost in estimating the fair value of property, plant and equipment. x�b```b``�a`a``Ne�e@ ^V da�����4�?���Ef�#â���/ohW����ⅥGPS��|f��vY PBE IPSAS 21 Impairment of Non-Cash-Generating Assets. The produce growing on bearer plants remains within the scope of PBE IPSAS 27. This guidance is similar to that in NZ IAS 16 but has been revised to reflect recent guidance from … International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements.These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Agriculture. PBE IPSAS 23 Revenue from Non-Exchange Transactions. However, the produce on the plants is still required to be accounted for as a biological asset under PBE IPSAS 27. Not-for-profit Public Sector Prescribes the accounting treatment for property, plant and equipment. 0000003718 00000 n PBE IPSAS 17: 4 Dec 2013: Property, Plant and Equipment: Property, Plant and Equipment - 4 December 2013 - Transition to the New Public Benefit Entity (PBE) Accounting Standards for the Public Sector. endstream endobj 1810 0 obj <>/Size 1797/Type/XRef>>stream are used solely to grow produce, into the scope of PBE IPSAS 17 Property, plant and equipment (and out of the scope of PBE IPSAS 27 Agriculture) so that they are accounted for in the same way as property, plant and equipment. This is equivalent to the bearer plants amendments made to NZ IAS 16 and NZ IAS 41 in 2014. PBE IPSAS 11: Construction Contracts: PBE IPSAS 12: Inventories: PBE IPSAS 13: Leases: … Property, Plant and Equpment . 0000005802 00000 n PBE IPSAS 17 uses “fair value” to value assets. 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