fixed-assets-advisor

Name: fixed-assets-advisor
Author: Raishin

17stars3forks

How to install fixed-assets-advisor?

raishin/vanguard-frontier-agentic/fixed-assets-advisor

$npx -y skills add Raishin/vanguard-frontier-agentic --skill fixed-assets-advisor

Installs into the current project.

Summary

Multi-jurisdiction fixed assets, depreciation, and impairment reference framework covering PP&E, intangibles, right-of-use assets, and goodwill under US GAAP and IFRS.

Files · 1

View on GitHub

SKILL.md

1	# Fixed Assets & Impairment Advisor — Reference Skill
2
3	## Purpose
4
5	Provide the complete multi-jurisdiction framework for fixed assets, depreciation, and impairment advisory — from PP&E initial recognition through useful life reviews, revaluation, impairment testing (with critical reversibility divergence), goodwill, intangibles, R&D capitalisation, and the interaction with tax depreciation.
6
7	---
8
9	## Part 1: PP&E — Recognition and Initial Measurement
10
11	### Recognition Criteria
12
13	US GAAP (ASC 360-10-05):
14	An item of PP&E is recognized when it is probable that future economic benefits will flow to the entity and the cost can be measured reliably. No explicit recognition probability threshold is stated; capitalisation vs. expense is a matter of policy based on materiality thresholds.
15
16	IFRS (IAS 16.7):
17	An item of PP&E is recognized as an asset when: (a) it is probable that future economic benefits will flow to the entity; and (b) the cost can be measured reliably. Both conditions must be met.
18
19	German HGB (§246, §253 HGB):
20	All assets must be recognized (Aktivierungspflicht — mandatory capitalisation for assets that meet the definition). No probability assessment is applied separately; legal ownership or economic substance determines whether an asset is recognized.
21
22	JGAAP (ASBJ Statement No. 11):
23	Broadly consistent with IFRS criteria for recognition; physical assets acquired must be capitalized at cost.
24
25	### Cost Model (All Jurisdictions)
26
27	Initial measurement at cost:
28
29	```
30	Cost = Purchase price + Import duties + Non-refundable purchase taxes
31	+ Directly attributable costs to bring the asset to working condition
32	− Trade discounts and rebates
33	```
34
35	Directly attributable costs include: site preparation, delivery and installation, professional fees (architects, engineers), and estimated dismantlement/restoration costs (decommissioning provision — IAS 37 / ASC 410-20).
36
37	What is NOT included in cost:
38	- General and administrative overhead (unless directly attributable).
39	- Start-up and pre-opening costs (IAS 16.19; ASC 360-10 — expense as incurred).
40	- Initial operating losses.
41	- Staff training to operate the asset.
42
43	### IFRS Revaluation Model (IAS 16.29–16.42) — No US GAAP Equivalent
44
45	Under IFRS, after initial recognition an entity may choose the revaluation model as its accounting policy for an entire class of PP&E:
46
47	- The asset is carried at fair value at the revaluation date less subsequent accumulated depreciation and impairment.
48	- Revaluations must be carried out with sufficient regularity that the carrying amount does not differ materially from fair value at the balance sheet date.
49	- Revaluation surplus (increase): recognized in OCI (other comprehensive income) and accumulated in equity as "revaluation surplus" (IAS 16.39). Exception: if the increase reverses a previous revaluation decrease recognized in P&L, the increase is recognized in P&L to the extent of the prior decrease.
50	- Revaluation decrease: recognized in P&L (IAS 16.40). Exception: if a revaluation surplus exists for the same asset, the decrease is debited against OCI first.
51	- Treatment of depreciation on revaluation surplus: an entity may transfer the incremental depreciation (i.e., depreciation based on revalued amount less depreciation based on original cost) from revaluation surplus to retained earnings each period — or transfer the full surplus on derecognition. Both are permitted under IAS 16.41.
52
53	CRITICAL: The revaluation model has no equivalent under US GAAP. Under ASC 360, PP&E is measured at historical cost less accumulated depreciation. Revaluation upward is never permitted under US GAAP.
54
55	### Componentisation
56
57	IFRS (IAS 16.43) — REQUIRED:
58	Each part of an item of PP&E with a cost that is significant in relation to the total cost of the item must be depreciated separately. This is componentisation (also called "component accounting"). A significant component that has a different useful life from the rest of the asset must be separated.
59
60	Example: An aircraft — airframe (25-year useful life), engines (12-year useful life), interior (7-year useful life) — must be depreciated as separate components under IFRS.
61
62	US GAAP (ASC 360) — OPTIONAL:
63	Componentisation is not required under US GAAP. Entities may depreciate assets as a whole or componentise voluntarily. This is a significant practical divergence for entities dual-reporting.
64
65	### Borrowing Cost Capitalisation
66
67	US GAAP (ASC 835-20):
68	Interest must be capitalised on qualifying assets (assets that require a substantial period of time to get ready for

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fixed-assets-advisor

17stars3forks

View on GitHub

How to install fixed-assets-advisor?

raishin/vanguard-frontier-agentic/fixed-assets-advisor

$npx -y skills add Raishin/vanguard-frontier-agentic --skill fixed-assets-advisor

Installs into the current project.

Summary

Multi-jurisdiction fixed assets, depreciation, and impairment reference framework covering PP&E, intangibles, right-of-use assets, and goodwill under US GAAP and IFRS.

Files · 1

View on GitHub

SKILL.md

1	# Fixed Assets & Impairment Advisor — Reference Skill
2
3	## Purpose
4
5	Provide the complete multi-jurisdiction framework for fixed assets, depreciation, and impairment advisory — from PP&E initial recognition through useful life reviews, revaluation, impairment testing (with critical reversibility divergence), goodwill, intangibles, R&D capitalisation, and the interaction with tax depreciation.
6
7	---
8
9	## Part 1: PP&E — Recognition and Initial Measurement
10
11	### Recognition Criteria
12
13	US GAAP (ASC 360-10-05):
14	An item of PP&E is recognized when it is probable that future economic benefits will flow to the entity and the cost can be measured reliably. No explicit recognition probability threshold is stated; capitalisation vs. expense is a matter of policy based on materiality thresholds.
15
16	IFRS (IAS 16.7):
17	An item of PP&E is recognized as an asset when: (a) it is probable that future economic benefits will flow to the entity; and (b) the cost can be measured reliably. Both conditions must be met.
18
19	German HGB (§246, §253 HGB):
20	All assets must be recognized (Aktivierungspflicht — mandatory capitalisation for assets that meet the definition). No probability assessment is applied separately; legal ownership or economic substance determines whether an asset is recognized.
21
22	JGAAP (ASBJ Statement No. 11):
23	Broadly consistent with IFRS criteria for recognition; physical assets acquired must be capitalized at cost.
24
25	### Cost Model (All Jurisdictions)
26
27	Initial measurement at cost:
28
29	```
30	Cost = Purchase price + Import duties + Non-refundable purchase taxes
31	+ Directly attributable costs to bring the asset to working condition
32	− Trade discounts and rebates
33	```
34
35	Directly attributable costs include: site preparation, delivery and installation, professional fees (architects, engineers), and estimated dismantlement/restoration costs (decommissioning provision — IAS 37 / ASC 410-20).
36
37	What is NOT included in cost:
38	- General and administrative overhead (unless directly attributable).
39	- Start-up and pre-opening costs (IAS 16.19; ASC 360-10 — expense as incurred).
40	- Initial operating losses.
41	- Staff training to operate the asset.
42
43	### IFRS Revaluation Model (IAS 16.29–16.42) — No US GAAP Equivalent
44
45	Under IFRS, after initial recognition an entity may choose the revaluation model as its accounting policy for an entire class of PP&E:
46
47	- The asset is carried at fair value at the revaluation date less subsequent accumulated depreciation and impairment.
48	- Revaluations must be carried out with sufficient regularity that the carrying amount does not differ materially from fair value at the balance sheet date.
49	- Revaluation surplus (increase): recognized in OCI (other comprehensive income) and accumulated in equity as "revaluation surplus" (IAS 16.39). Exception: if the increase reverses a previous revaluation decrease recognized in P&L, the increase is recognized in P&L to the extent of the prior decrease.
50	- Revaluation decrease: recognized in P&L (IAS 16.40). Exception: if a revaluation surplus exists for the same asset, the decrease is debited against OCI first.
51	- Treatment of depreciation on revaluation surplus: an entity may transfer the incremental depreciation (i.e., depreciation based on revalued amount less depreciation based on original cost) from revaluation surplus to retained earnings each period — or transfer the full surplus on derecognition. Both are permitted under IAS 16.41.
52
53	CRITICAL: The revaluation model has no equivalent under US GAAP. Under ASC 360, PP&E is measured at historical cost less accumulated depreciation. Revaluation upward is never permitted under US GAAP.
54
55	### Componentisation
56
57	IFRS (IAS 16.43) — REQUIRED:
58	Each part of an item of PP&E with a cost that is significant in relation to the total cost of the item must be depreciated separately. This is componentisation (also called "component accounting"). A significant component that has a different useful life from the rest of the asset must be separated.
59
60	Example: An aircraft — airframe (25-year useful life), engines (12-year useful life), interior (7-year useful life) — must be depreciated as separate components under IFRS.
61
62	US GAAP (ASC 360) — OPTIONAL:
63	Componentisation is not required under US GAAP. Entities may depreciate assets as a whole or componentise voluntarily. This is a significant practical divergence for entities dual-reporting.
64
65	### Borrowing Cost Capitalisation
66
67	US GAAP (ASC 835-20):
68	Interest must be capitalised on qualifying assets (assets that require a substantial period of time to get ready for

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