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Revaluation of assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Revaluation of assets

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 28, 2018 at 9:39 am #439343
    Mohamed Gaafar Mohamed Abdalla
    Participant
    • Topics: 6
    • Replies: 4
    • ☆

    Dear Sir ,
    IAS 16 stated that there is 2 option for subsequent measurement of PPE , revaluation model if has been applied , It must be applied to the entire class of that asset , My question ,Is there any reference of application of that option to all asset categories, Is it acceptable to apply for Cars only without application to other type of asset ?
    Thanks in advance

    February 28, 2018 at 11:49 am #439371
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Yes, of course that’s a possibility

    Classes of assets differ by nature so it would be inappropriate to apply a sigle model exclusively to all assets

    As the IAS states, where the valuation model is used, it shall apply to all assets in that class, not all assets in that company

    OK?

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  • The topic ‘Revaluation of assets’ is closed to new replies.

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