Office Building – NBC Institute

FR – May 2017 – L2 – Q2b – Financial Reporting Standards and Their Applications

Calculate the capitalised costs for the construction of an office building.

Question

The following costs were incurred in 2016 in the design and construction of a new office building over a nine-month period during 2016:

Required:
In accordance with IAS 16 Property, Plant and Equipment, calculate the amount that should be capitalised as property in the financial statements for the year ending 31 December 2016.
(4 marks)

Answer

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Tags: Capitalisation of Costs, IAS 16, Office Building, Property Plant and Equipment
Level: Level 2

Topic: Financial Reporting Standards and Their Applications
Series: MAY 2017

Question Tag: Office Building

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FR – May 2017 – L2 – Q2b – Financial Reporting Standards and Their Applications

Calculate the capitalised costs for the construction of an office building.

FR – May 2017 – L2 – Q2b – Financial Reporting Standards and Their Applications

Calculate the capitalised costs for the construction of an office building.

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Calculate the capitalised costs for the construction of an office building.

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Calculate the capitalised costs for the construction of an office building.

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