IFRS allows,but does not require,revaluation of property,plant and equipment to fair value.

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IFRS allows entities to revalue property, plant and equipment to fair value, but it is not a requirement. Entities can choose to measure these assets at cost less accumulated depreciation and impairment losses, or they can use the revaluation model. However, if an entity chooses to use the revaluation model, it must apply the model consistently to all assets within a particular class.

IFRS Allows,but Does Not Require,revaluation of Property,plant and Equipment to Fair