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what is the difference between Fair value and Revaluation models?
if there is no difference then why different names are used for the same thing?One can measure items at fair value – for example, for the purposes of “proper” accounting under IFRS3 revised – but that doesn’t mean that the subsidiary is going to adopt the revaluation model
Besides, why does any pair of synonyms exist?
A fair value exercise may be taken for a number of reasons including determining whether there has been an impairment of an asset and determining the fair value of assets acquired on a subsidiary acquisition.
But just because a fair value exercise is carried out does not automatically imply that the revaluation model is going to be adopted
Is that better?
I just wanted to know the difference between these two models,since both give the same sense.
I’m sorry! I hadn’t realized that you were talking about a fair value MODEL – I thought you were simply referring to a fair value EXERCISE.
If we’re talking the difference between the titles of two models ……. I don’t think I could distinguish them
I’ll look it up on google when I get home later this evening and, if I’m more enlightened, I’ll let you know
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