Major inspections and overhauls

Learning objectives

• Determine the treatment of a recurring major inspection and its depreciation.L2, L3
• Record a major inspection and the derecognition of the previous one.L3

Normative references

• IAS 16 §14Major inspections: cost recognised as a replacement if the recognition criteria are met; any remaining carrying amount of the previous inspection derecognised.

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

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