International Financial Reporting Standards (IFRS) allow accounting for tangible and intangible assets at fair value by:

Question

Quizplus · Accepted Answer

IFRS allow accounting for tangible and intangible assets at fair value through revaluation, which involves appraising the item's fair value and recording the resulting increase or decrease in value on the balance sheet. This can only be done if the fair value can be measured reliably. Reapplication and reconsideration are not valid options for accounting for asset values, and "appraisalization" is not a term used in accounting.

International Financial Reporting Standards (IFRS) Allow Accounting for Tangible and Intangible