Scope exclusions

Learning objectives

• Distinguish the assets excluded from the scope of IAS 16 and identify the Standard applicable to each.L1, L2
• Analyse a situation in which an asset changes category (e.g. classification as held for sale) and determine the applicable Standard.L3

Normative references

• IAS 16 §3Exclusions: assets held for sale (IFRS 5), biological assets related to agricultural activity other than bearer plants (IAS 41), the recognition and measurement of exploration and evaluation assets (IFRS 6), mineral rights and mineral reserves; IAS 16 nevertheless applies to property, plant and equipment used to develop or maintain the assets described in (b) to (d).

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

1 question

• Which of the following are excluded from the scope of IAS 16? (Select all that apply.)L1