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  • MFRS 116 Property, Plant and Equipment

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    gar kei
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    MFRS 116 does not apply to accounting for property, plant and equipment in the following four areas: 1) biological assets, 2) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources, 3) service concession arrangements, and 4) leases of an asset.

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    MFRS 116 does not apply to accounting for property, plant and equipment in the following four areas: 1) biological assets, 2) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources, 3) service concession arrangements, and 4) leases of an asset.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    22 views1 page

    MFRS 116 Property, Plant and Equipment

    Uploaded by

    gar kei
    MFRS 116 does not apply to accounting for property, plant and equipment in the following four areas: 1) biological assets, 2) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources, 3) service concession arrangements, and 4) leases of an asset.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Question

    An entity applies MFRS in accounting for property, plant and equipment except when another standard
    requires or permits a different accounting treatment.

    Required:

    List FOUR (4) areas that are not within the scope of MFRS 116.

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