Cost model

Learning objectives

• Calculate the carrying amount under the cost model.L1, L2
• Explain the components of the carrying amount under the cost model.L1

Normative references

• IAS 16 §30Cost model: cost less any accumulated depreciation and any accumulated impairment losses.

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

1 question

• Under the cost model, at what amount is an item of property, plant and equipment carried after initial recognition?L1