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IFRS for SME

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS for SME

Viewing 2 posts - 1 through 2 (of 2 total)
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  • February 25, 2018 at 8:35 pm #438935
    eliaslinus
    Participant
    • Topics: 37
    • Replies: 55
    • ☆☆

    Dear Sir,

    In the notes of OT there is that the accounting treatment for PPE is the cost model only.
    However, when I read the IFRS for SME from the iasplus website, it stated that the revelation method can also be used “Historical cost-depreciation-impairment model or revaluation model”.

    Also, with regards to the investment in Associate and Joint Venture, the Equity Method is an option, however the OT notes say that they are accounted for by the cost model.

    Can you please assist?

    Thanks and regards,
    Marylise Sacco

    Can you please verify?

    March 4, 2018 at 7:34 pm #440181
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7136
    • ☆☆☆☆☆

    Hi,

    I’ll update the notes but yes the revaluation model can be adopted and the equity method can now be used.

    Thanks

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