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1. Discuss the role of the IASB and its efforts towards the standardisation/harmonisation of accounting standards. 2.1AS 16 allows two different ways of measuring property,
1. Discuss the role of the IASB and its efforts towards the standardisation/harmonisation of accounting standards. 2.1AS 16 allows two different ways of measuring property, plant and equipment subsequent to its initial recognition as an asset. These are the "cost model" and "revaluation" model. Explain the two models and how to account for gains and losses under each model
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