Description

Swiss GAAP FER 18 “Tangible fixed assets” defines tangible fixed assets (tangible long-lived assets, property, plant and equipment) as tangible and used for the production of goods, for rendering of services or for investment purposes. Criteria are outlined regarding capitalisation, whereas each item is valued separately. Subsequent to initial recognition, tangible fixed assets kept for use are valued at acquisition or production cost less accumulated depreciation and impairment. The carrying amounts have to be reviewed according to Swiss GAAP FER 20. The statement of changes in tangible fixed assets is to be disclosed in the notes. Tangible fixed assets held exclusively for investment purposes (e.g., residential buildings) can be measured at actual value or acquisition or production cost less accumulated depreciation.