Full-IFRS permits the revaluation of property, plant, and equipment while IFRS for SMEs does not. In the U.S., the cost method (less amortization) must be used. From a conceptual framework perspective, is it possible to justify the use of the revaluation technique? Be sure to describe relevant concepts in answering this question. Why do you think IFRS for SMEs does not permit revaluation while full-IFRS does? Are these inconsistent requirements?

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The Answer of Full-IFRS permits the revaluation of property, plant, and equipment while IFRS for SMEs does not. In the U.S., the cost method (less amortization) must be used. From a conceptual framework perspective, is it possible to justify the use of the revaluation technique? Be sure to describe relevant concepts in answering this question. Why do you think IFRS for SMEs does not permit revaluation while full-IFRS does? Are these inconsistent requirements?

Full-IFRS Permits the Revaluation of Property, Plant, and Equipment While