International Financial Reporting Standards (IFRS)allows periodic revaluation of certain assets and liabilities to restate them to market value.

Question

Quizplus · Accepted Answer

IFRS does allow periodic revaluation of certain assets and liabilities to restate them to market value. This is known as the fair value option. However, not all assets and liabilities are eligible for revaluation, and companies must follow specific guidelines to ensure consistency and accuracy in their financial statements.

International Financial Reporting Standards (IFRS)allows Periodic Revaluation of Certain Assets