In 2008, Portugal Telecom changed the accounting policy regarding the measurement of real estate properties and the
Question:
In 2008, Portugal Telecom changed the accounting policy regarding the measurement of real estate properties and the ducts infrastructure from the cost model to the revaluation model, since the latter better reflects the economic value of those asset classes (Note 4).
Balance sheet (extract) 2008
Change in shareholders’ equity (excluding minority interests) 2008
Discussion points
1 What reason did the group give for choosing to measure the revaluation of its property assets?
2 How significant was the magnitude of the revaluation and how was it reported?
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Related Book For 
Financial And Management Accounting An Introduction
ISBN: 9789332511200
5th Edition
Authors: Pauline Weetman
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