Cost Elements – Knowsia

FR – Nov 2014 – L2 – Q7a – Property, Plant and Equipment (IAS 16)

Identify the elements of cost for PPE and provide examples of directly attributable costs.

Question

a. IAS 16 covers all aspects of accounting for Property, Plant and Equipment (PPE), including its measurement and qualification for recognition as an asset. The standard also describes the elements of cost, stating that some costs are directly attributable to the costs of PPE while some other costs fail to qualify as costs of an item of PPE.

Required:

In the context of IAS 16, identify the elements of cost of an item of Property, Plant, and Equipment, giving SIX examples of directly attributable costs. (5 Marks)

Answer

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Tags: Cost Elements, Directly Attributable Costs, IAS 16, Plant and Equipment, Property
Level: Level 2

Topic: Property, Plant, and Equipment (IAS 16)
Series: NOV 2014

FA – May 2023 – L1 – SB – Q6a – Accounting for Property, Plant, and Equipment (PPE) in Accordance with IAS 16

Identifying the elements of the cost of Property, Plant, and Equipment (PPE) under IAS 16, with examples of directly attributable costs.

Question

In the context of IAS 16, identify the elements of the cost of an item of “Property, Plant, and Equipment,” giving FOUR examples of directly attributable costs. (8 Marks

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Direct Costs, IAS 16, PPE
Level: Level 1

Topic: Accounting for Property, Plant, and Equipment (PPE) IAS 16
Series: MAY 2023

MI – Mar-Jul 2020 – L1 – SA – Q11 – Accounting for Cost Elements

Identify the document used to record the start and finish time of an operation by a worker.

Question

The document filled by a worker to record the starting and finishing time of his own operation is known as:

A. Job cost sheet
B. Completion of job sheet
C. Job time sheet
D. Job materials requisition sheet
E. Clock card

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Job Costing, Labour Costing, Time Recording
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAR/JULY 2020

MI – May 2016 – L1 – SA – Q3 – Cost Classifications

Identify which characteristic is not true for not-for-profit organizations.

Question

Which of the following is similar to accounting for scrap value of abnormal gain?

A. Accounting for scrap value of abnormal loss
B. Accounting for scrap value of normal loss
C. Accounting for scrap value of normal gain
D. Accounting for scrap value of by-products
E. Accounting for scrap value of joint products

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Managerial Accounting, Not-for-profit
Level: Level 1

Topic: Cost Classifications
Series: MAY 2016

FR – Nov 2014 – L2 – Q7a – Property, Plant and Equipment (IAS 16)

Identify the elements of cost for PPE and provide examples of directly attributable costs.

Question

Required:

In the context of IAS 16, identify the elements of cost of an item of Property, Plant, and Equipment, giving SIX examples of directly attributable costs. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Directly Attributable Costs, IAS 16, Plant and Equipment, Property
Level: Level 2

Topic: Property, Plant, and Equipment (IAS 16)
Series: NOV 2014

FA – May 2023 – L1 – SB – Q6a – Accounting for Property, Plant, and Equipment (PPE) in Accordance with IAS 16

Identifying the elements of the cost of Property, Plant, and Equipment (PPE) under IAS 16, with examples of directly attributable costs.

Question

In the context of IAS 16, identify the elements of the cost of an item of “Property, Plant, and Equipment,” giving FOUR examples of directly attributable costs. (8 Marks

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Direct Costs, IAS 16, PPE
Level: Level 1

Topic: Accounting for Property, Plant, and Equipment (PPE) IAS 16
Series: MAY 2023

MI – Mar-Jul 2020 – L1 – SA – Q11 – Accounting for Cost Elements

Identify the document used to record the start and finish time of an operation by a worker.

Question

The document filled by a worker to record the starting and finishing time of his own operation is known as:

A. Job cost sheet
B. Completion of job sheet
C. Job time sheet
D. Job materials requisition sheet
E. Clock card

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Job Costing, Labour Costing, Time Recording
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAR/JULY 2020

MI – May 2016 – L1 – SA – Q3 – Cost Classifications

Identify which characteristic is not true for not-for-profit organizations.

Question

Which of the following is similar to accounting for scrap value of abnormal gain?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Elements, Managerial Accounting, Not-for-profit
Level: Level 1

Topic: Cost Classifications
Series: MAY 2016

Question Tag: Cost Elements

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FR – Nov 2014 – L2 – Q7a – Property, Plant and Equipment (IAS 16)

Identify the elements of cost for PPE and provide examples of directly attributable costs.

FA – May 2023 – L1 – SB – Q6a – Accounting for Property, Plant, and Equipment (PPE) in Accordance with IAS 16

Identifying the elements of the cost of Property, Plant, and Equipment (PPE) under IAS 16, with examples of directly attributable costs.

MI – Mar-Jul 2020 – L1 – SA – Q11 – Accounting for Cost Elements

Identify the document used to record the start and finish time of an operation by a worker.

MI – May 2016 – L1 – SA – Q3 – Cost Classifications

Identify which characteristic is not true for not-for-profit organizations.

FR – Nov 2014 – L2 – Q7a – Property, Plant and Equipment (IAS 16)

Identify the elements of cost for PPE and provide examples of directly attributable costs.

FA – May 2023 – L1 – SB – Q6a – Accounting for Property, Plant, and Equipment (PPE) in Accordance with IAS 16

Identifying the elements of the cost of Property, Plant, and Equipment (PPE) under IAS 16, with examples of directly attributable costs.

MI – Mar-Jul 2020 – L1 – SA – Q11 – Accounting for Cost Elements

Identify the document used to record the start and finish time of an operation by a worker.

MI – May 2016 – L1 – SA – Q3 – Cost Classifications

Identify which characteristic is not true for not-for-profit organizations.

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