After initial recognition, an item of PP&E whose fair value can be measured reliably should be carried at a revalued amount.

Question

Quizplus · Accepted Answer

Under IAS 16 Property, Plant and Equipment, after initial recognition, an item of PP&E can be carried at a revalued amount, being its fair value at the date of the revaluation less any subsequent accumulated depreciation and impairment losses, provided that fair value can be measured reliably.

After Initial Recognition, an Item of PP&E Whose Fair Value