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Fair Value Model (IAS – 40) and Revaluation Model (IAS – 16)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Fair Value Model (IAS – 40) and Revaluation Model (IAS – 16)

  • This topic has 2 replies, 2 voices, and was last updated 1 year ago by saadathar14.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • October 16, 2021 at 11:01 am #637804
    saadathar14
    Participant
    • Topics: 9
    • Replies: 8
    • ☆

    Hello Sir,
    My question is why we report changes of Fair value in SOPL and of Revaluation in OCI, particularly in the standards catalogued above. Is that because of our difference in intention to use that asset?
    Thanks!

    October 20, 2021 at 7:39 pm #638635
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6440
    • ☆☆☆☆☆

    Hi,

    Yes, you’ve answered your own question! It is due to the different intent. For PPE we are continuing to use it in the business for the foreseeable future, so won’t be realising any gains on it through sale anytime soon. Any gains therefore go through OCI.

    For IP we are holding it for investment purposes, an alternative to if we were holding shares that we had invested, that we are looking to realise any gains from soon through sale and so any gains/losses go through profit or loss.

    Thanks,

    October 31, 2021 at 11:16 am #639546
    saadathar14
    Participant
    • Topics: 9
    • Replies: 8
    • ☆

    Thank you sir!

  • Author
    Posts
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