Property, Plant and Equipment (PPE), Investment Property and Intangible Assets are all types of non-financial, non-current assets. Both International Financial Reporting Standards (IFRS) and General Accounting Principles for Small and Medium-Sized Entities (GAPSME) have standards, or sections, dedicated specifically to each of them.
- ‘PPE’ – IAS 16 (IFRS) and Section 7 (GAPSME)
- ‘Investment Property’ – IAS 40 (IFRS) and Section 8 (GAPSME)
- ‘Intangible Assets’ – IAS 38 (IFRS) and Section 11 (GAPSME)
It is well known that the accounting treatment of these assets is strikingly similar in several respects.
However, there are some key differences between the treatment of the different assets, and, in the case of Investment Property and Intangible Assets, in the way the same asset would be treated under different frameworks.
The seminar will be split into four parts:
- Part 1 will clarify the differences between PPE, Investment Property and Intangible Assets
- Part 2 will delve into the accounting treatment of PPE, with a brief mention of the minimal existing differences between IFRS and GAPSME.
- Part 3 will cover the accounting treatment of Investment Property, with a particular emphasis upon the differences between IFRS and GAPSME.
- Finally, part 4 will consist of a detailed overview of arguably the most complex of the three types of assets, that is, intangible assets. Once again, the important differences between IFRS and GAPSME will be emphasised.