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Hi Sir,
Is change from Cost Model to Revaluation Model a change in accounting policy?If you want to ask the tutor directly, kindly post it in Ask the Tutor forum. This forum is for students to help each other.
The change from cost model to revaluation model is indeed a change in policy. IAS 8 requires it to adjust retrospectively, however, it is impracticable to adjust change in valuation to apply retrospectively. Therefore, prospective adjustment is applied.
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