Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction, or, when applicable, the amount attributed to that asset when initially recognised in accordance with the specific requirements of other IFRSs, eg IFRS 2.
Sources:
- IAS 16 Property, Plant and Equipment
- IAS 38 Intangible Assets
- IAS 40 Investment Property.
