FRS15 and fixed assets
13 September 2012
FRS15 tangible fixed assets sets out the principles of accounting for the initial measurement, valuation and depreciation of such assets.
FRS15 tangible fixed assets sets out the principles of accounting for the initial measurement, valuation and depreciation of such assets. It seeks to plug a gap in accounting standards concerning initial recognition and measurement of tangible fixed assets. It also aims to limit the discretion allowed to entities valuing them.
Although SSAP 12’s position on...