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of <h1>Ind AS 16: Guidelines on Impairment, Derecognition of Property, Plant & Equipment; Links to Ind AS 36, 115, 116.</h1> Ind AS 16 addresses the impairment and derecognition of property, plant, and equipment (PPE). Impairment is assessed using Ind AS 36, which guides the evaluation of asset carrying amounts and recoverable values, and the recognition or reversal of impairment losses. Compensation for impaired PPE is recognized in profit or loss when receivable. Derecognition of PPE follows Ind AS 115 criteria, with gains or losses included in profit or loss unless Ind AS 116 applies. Routine sales of rental PPE are transferred to inventories, with proceeds recognized as revenue. Disposal results in complete elimination from financial statements, following transaction price guidelines in Ind AS 115.
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