FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(Answer length - approximately 100 words) According to AASB 116, management may change the measurement basis for propert, plant and equipment, for example from cost

image text in transcribed
(Answer length - approximately 100 words) According to AASB 116, management may change the measurement basis for propert, plant and equipment, for example from cost to fair value. However, there are certain disincentives to adopting the revaluation model. Required: Explain two reasons why the cost model would be preferred over the revaluation model. (4 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Audit American Battle Monuments Commissions Financial Statements For Fiscal Years 2011 And 2010

Financial Audit American Battle Monuments Commissions Financial Statements For Fiscal Years 2011 And 2010

Authors: Government Accountability Office

1st Edition

1492310883, 978-1492310884

More Books

Students also viewed these Accounting questions

Question

★★★★★
A function whose argument is the name of a state and whose value is the highest altitude in that state. State Highest Altitude (ft) California .......................... 14,491 Idaho...

Answered: 1 week ago

Question

★★★★★
=+there would be an initial shakedown period during which autos would cost $10,000 to produce domestically.

Answered: 1 week ago

Question

★★★★★
Use words that are concrete, unbiased, vivid, simple, and correct.

Answered: 1 week ago

Question

★★★★★
Situation The Tenth National Bank had taken possession of a shopping mall in foreclosure of a mortgage. When the mall was inspected prior to being sold by the bank to a real estate company, it was...

Answered: 1 week ago

Question

★★★★★
(Answer length - approximately 100 words) According to AASB 116, management may change the measurement basis for propert, plant and equipment, for example from cost to fair value. However, there are...

Answered: 1 week ago

Question

★★★★★
Imagine particle confined to an open cylinder of radius R and bound to the origin by a spring with spring constant k (see the Figure). Find conjugate momenta, the Hamiltonian and Hamilton's equations...

Answered: 1 week ago

Question

★★★★★
Determine the amplitude and period of each function.

Answered: 1 week ago

Question

★★★★★
23. Consider the following frequency distribution of weights of 150 bolts: Weight (grams) Frequency 5.00 and less than 5.01 4 5.01 and less than 5.02 18 5.02 and less than 5.03 25 5.03 and less than...

Answered: 1 week ago

Question

★★★★★
Evan Corporation provided consulting services for Kensington Company in year 1. Evan incurred costs of $60,000 associated with the consulting and billed Kensington $90,000. Evan paid $40,000 of its...

Answered: 1 week ago

Question

★★★★★
The price per gallon of gas data set has a mean of $2.98 and a standard deviation of $1.07. The high school SAT scores data set has a mean of 1015 and a standard deviation of 165. Calculate the...

Answered: 1 week ago

Question

★★★★★
7. Question 7 Refer to Step 3.3. In the "Unconstrained " or "Short Selling " version of the optimal risky portfolio, what is the portfolio mean ? Write your answer as a percentage ,with no percentage...

Answered: 1 week ago

Question

★★★★★
3. Evaluate your listeners and tailor your speech to them

Answered: 1 week ago

Question

★★★★★
4. Locate a persuasive speech that you found particularly compelling. Print it out and edit it, removing any and all of the material that you feel is persuasive in nature (for example, the speakers...

Answered: 1 week ago

Question

★★★★★
3. Informative speeches are everywherein your classroom, on the news, and in your community. Watch an informative speech (or read a transcript, available at the Web sites of many government agencies...

Answered: 1 week ago

Previous Question Next Question