IAS 16 requires the

Question

IAS 16 requires the

Quizplus · Accepted Answer

IAS 16 requires the use of the cost model or the revaluation model for accounting for property, plant, and equipment. The cost model involves measuring the asset at cost less accumulated depreciation and impairment losses, while the revaluation model involves measuring the asset at fair value less accumulated depreciation and impairment losses. Current value accounting or general purchasing power accounting is not required by IAS 16 for property, plant, and equipment or any other assets or liabilities.

IAS 16 Requires the