Under IFRS companies are allowed to revalue their property, plant, and equipment as well as intangible assets.The revaluation is based upon market value and can be either adjusted up or down.

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Under IFRS, companies have the option to revalue their property, plant, and equipment and intangible assets to their fair market value. This revaluation can result in an increase or decrease in the carrying amount of the assets.

Under IFRS Companies Are Allowed to Revalue Their Property, Plant