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Fair value vs cost model… need help ! !

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › Fair value vs cost model… need help ! !

  • This topic has 4 replies, 2 voices, and was last updated 7 years ago by jamesyeung.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • October 5, 2017 at 5:23 pm #409566
    jihun lee
    Member
    • Topics: 117
    • Replies: 51
    • ☆☆

    for example like in IAS 40, investment properties, how do we know whether to use fair value model or cost model ? Because the question never state which model to use

    Im really confused and also including other IASs as well

    October 5, 2017 at 5:30 pm #409569
    jihun lee
    Member
    • Topics: 117
    • Replies: 51
    • ☆☆

    Likenon sept/dec 2016 exam question number 1, ZIPPY, how do we know for section 4 whether to use cost model or fair value when they never clearly state on the question ?

    October 6, 2017 at 1:03 am #409603
    jamesyeung
    Member
    • Topics: 0
    • Replies: 53
    • ☆☆

    In the middle of the paragraph, it says “Zippy has a policy of restating all land and buildings to fair value at each reporting date. “

    October 6, 2017 at 3:10 am #409605
    jihun lee
    Member
    • Topics: 117
    • Replies: 51
    • ☆☆

    Then if that paragraph was not mentioned explicitly , we use cost model ?

    October 6, 2017 at 3:24 am #409606
    jamesyeung
    Member
    • Topics: 0
    • Replies: 53
    • ☆☆

    there isn’t a defaulted one. You should be able to find hints in the paragraphs telling you which method to use.

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