In the context of IAS 16 property, plant and equipment,Outline any two disclosure requirement for items of property, plant and equipment which are stated at...

      

In the context of IAS 16 property, plant and equipment,Outline any two disclosure requirement for items of property, plant and equipment which are stated at revalued amounts

  

Answers


Wilfred
1. The effective date of revaluation
2. Whether an in depended valuer was involved
3. The methods and significant assumption applied in estimated the items fair values
4. The extend to which the items fair values were determined directly by reference to observable prices in an active market or recent market transaction on arms lengths term
5. The carrying amount that would have been recognized had the asset been carried under the cost model.
6. The revaluation surplus indicating the change for the period and any restriction on the distribution of the balance to shareholders
Wilfykil answered the question on February 8, 2019 at 06:22


Next: In the context of IAS 16 property, plant and equipment, Briefly describe the accounting treatment with respect to the increase in the carrying amount of...
Previous: Highlight four circumstances under which a legacy may fail

View More CPA Financial Reporting Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions