ERP 如何 修整會計引擎 對應 GAAP IFRS
IFRS for Long-lived Assets & R&D
With comparison to US GAAP/TW GAAP
IFRS for long-lived assets including intangibles
Relevant IFRS:
IAS 16, 物業, 工廠與設備
IAS 38, 無形資產,
IAS 36, 減值資產
IFRS 5, 閒置資產
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IFRS
TSMC can be carried at historical cost or revalued amount less accumulated depreciation & impairment
Interest costs are capitalized if criteria of IAS23 are met
No inclusion of ARO in cost of asset when used for production of inventories
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US GAAP
TSMC must be carried at historical cost less accumulated depreciation
Interest costs must be capitalized if FAS34 requirements are met
AROs are recognized where there is a obligation to be met at retirement (no exception)
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Revaluation under IFRS
Entity must choose cost model or revaluation model for an entire class of property, plant & equipment [IAS16, para. 29]
If revaluation model is chosen, fair values that can be reliably determined must be done with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period [IAS16, para. 31]
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Increase in value:
Debit asset and report comprehensive income
The associated AOCI is called “revaluation surplus”
Decrease in value:
Credit asst and …
First, debit revaluation surplus to the extent it exists (for the specific asset) and report that portion of the loss in comprehensive income
Any remaining loss reduces profit & loss for the period
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Class Discussion - Brainstorm
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What is it about American/Taiwan culture and history that makes upward revaluation unacceptable?
If you are not an American/Taiwan, what is it about your culture (or others) that make upward revaluation acceptable?