C4 The Table is not intended to be comprehensive and it identifies particular measurement approaches in IFRSs and IASB ED/2013/7 only Insurance Contracts in broad terms for illustrative purposes. TABLE Class of IFRS subsequent measurement Strict application Possible standards-level assets or of modified operating capability ‘operating liabilities model (main modifications in capability’ concept of wealth italics) Inventories IAS 2 Lower of cost and net realisable Lower of current Lower of and net historical cost value cost and net realisable value, for inventories realisable value that turn over quickly; or Lower of current cost and net realisable value Plant and IAS 16 & IAS 38 equipment Cost less accumulated Current cost less less accumulated Historical cost Intangible depreciation/amortisation and accumulated depreciation/amortisation and assets accumulated impairment losses; depreciation/ accumulated impairment losses; or or amortisation and accumulated impairment losses Fair value less accumulated Current cost less accumulated depreciation/amortisation and depreciation/amortisation and accumulated impairment losses accumulated impairment losses (which could be a current replacement cost under IFRS 13) Land IAS 16 (PP&E) Cost less accumulated impairment Current cost less less accumulated Historical cost losses; or accumulated impairment losses; or impairment losses Fair value less accumulated and Current cost less accumulated impairment losses impairment losses Biological IAS 41 assets Fair value less costs to sell Current cost less Current cost less accumulated accumulated impairment losses impairment losses Investment IAS 40 properties Cost less accumulated Current cost less less accumulated Historical cost depreciation and accumulated accumulated amortisation and accumulated impairment losses; or depreciation and impairment losses; or accumulated impairment losses
C4 The Table is not intended to be comprehensive and it identifies particular measurement approaches in IFRSs and IASB ED/2013/7 Insurance Contracts only in broad terms for illustrative purposes. TABLE Class of assets or liabilities IFRS subsequent measurement Strict application of ‘operating capability’ concept of wealth Possible standards-level modified operating capability model (main modifications in italics) Inventories IAS 2 Lower of cost and net realisable value Lower of current cost and net realisable value Lower of historical cost and net realisable value, for inventories that turn over quickly; or Lower of current cost and net realisable value Plant and equipment Intangible assets IAS 16 & IAS 38 Cost less accumulated depreciation/amortisation and accumulated impairment losses; or Current cost less accumulated depreciation/ amortisation and accumulated impairment losses Historical cost less accumulated depreciation/amortisation and accumulated impairment losses; or Fair value less accumulated depreciation/amortisation and accumulated impairment losses (which could be a current replacement cost under IFRS 13) Current cost less accumulated depreciation/amortisation and accumulated impairment losses Land (PP&E) IAS 16 Cost less accumulated impairment losses; or Current cost less accumulated impairment losses Historical cost less accumulated impairment losses; or Fair value less accumulated and impairment losses Current cost less accumulated impairment losses Biological assets IAS 41 Fair value less costs to sell Current cost less accumulated impairment losses Current cost less accumulated impairment losses Investment properties IAS 40 Cost less accumulated depreciation and accumulated impairment losses; or Current cost less accumulated depreciation and accumulated impairment losses Historical cost less accumulated amortisation and accumulated impairment losses; or
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