Few of the positive aspects related to IAS 16 are:
1. It makes it easy for accountants to carry out the accounting process for the plant, equipment and property.
2. It is a reliable, easy to follow method, and is used worldwide.
Some of the negative aspects related to IAS 16 are:
1. It does not prescribe the unit of measure for recognition of what constitutes plant, property and equipment.
2. There are various limitations in the standard that is applicable only to a specified class of plant, property and equipment.
