Measurement at cost on initial recognition

Learning objectives

• Identify the initial measurement basis of an item of property, plant and equipment (cost).L1

Normative references

• IAS 16 §15An item that qualifies for recognition is measured at its cost.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• True or false? An item of property, plant and equipment that qualifies for recognition is initially measured at its fair value at the acquisition date.L1