MEASUREMENT BASES and other important reminders

Borrowing Government Wasting Assets Investment Biological Assets Noncurrent Intangibles

Costs Grant Property assets held for
sale
Initial Fair value Cost Cost plus any Confirm: lower of Cost
Measurement Income or transaction CA and FVCTS
Liability costs (DACs)
Cost model and
revaluation model

Subsequent Cost Model or Fair value FVCTS – if may Cost model or

Measurement Revaluation Model model or cost FVCTS or Cost less Acc Dep less IL increase in FVCTS revaluation model
model (with previously (if may active
recognized IL), the martket)
Any change in gain is limited only
FV is presented to the IL
in P/L
Disposal Net Proceeds
(SP – cost to
sell) – CA of the
asset =
gain/loss (P/L)
Other Reminders Applicable Receivable as Composition of cost: Cost (basket Cost to sell excludes transportation, finance cost, and Revluation surplus – Impairment of
only for compensation - acquisition cost method) income taxes (roque HO) walang piecemeal Patent:
qualifying for losses – (wasting assets include - Hindi given realization - compare CV with
assets. income na agad a land area – treated ang FV ng isa - Gain = includes harvest and birth its recoverable
as residual value to get use residual Reval: value (higher
GG do not the depletable approach Bearer plants with dual purpose – BA Change in FV – between value in
include amount) (allocate muna presented in OCI?? use and FVCTS)
government - exploration cost sa may FV) From valix:
assistance (before technical If mining equipment is movable and can be used for Trademark:
feasibility and Subsequent future extractvie project, use SL method. According to
commercial viability ; costs are also roque HO, if may
either successful effort capitalizable binigay na definite
or full cost method like sa PPE life pero sinabing
- development cost “trademark will be
(after technical Disposal: renewed in the
feasibility and If cost model – future indefinitely”,
commercial viability) dapat updated treat as asset with
- estimated restoration muna ang CA indefinite life.
cost
If fair value Customer list – if
Depletion model – use FV silent as to whether
- If may shut at the last acquired or
down, use SL reporting date internally
method kahit given ang generated, assume
- Inventoriable FV at the na acquired. So
(treated as disposal date subject to
direct amortization.
materials) Transfers:
Cost model – Internally generate
Rules in depreciating no gain or loss IA –
mining properties: - research phase –
- SHORTER FV model expense lahat
between UL - OOP to IP –
of the mining difference is
 property reval surplus (if - development
and the UL walang phase – may
of the intention to criteria to be met
wasting reclassify from para macapitalize
assets. FV to cost, no
piecemeal Amortization of IA
Mining equipment realization. If with finite useful
- can be used in meron, may lives:
another mining site – SL piecemeal) - SHORTER
method between the
- walang use after all - Inventory to IP period of its
resources are removed – sa P/L lang legal/contractual
– use output method or rights and the
SL method. Depends - under period over which
kung ano ang shorter construction – the entity expects
between UL and FV – CA (of the to use the asset
mining period. CIP) shall go to - Amortization
P/L ceases at the
*if walang nagbago sa EARLIER between:
estimates, wala ring ▪ The asset in
change sa depletion classified as held
rate per unit. for sale
▪ Derecognition of
Shutdown: the asset
- compute
depreciation using UL Indefinite to finite
(based on remaining - amortize based
life and CV) on remaining life
- if nagresume – return
to output method
(using CA and
remaining estimate)

Government grant:

QS: if silent as to whether deferref income approach or deduction from the cost of the asset, ano gagamitin?