IAS 16 Property, Plant and Equipment ( https://www.iasplus.com/en/standards/ias/ias16 ) outlines the accounting treatment for most types of property, plant and equipment. Property, plant and equipment is initially measured at its cost, subsequently measured either using a cost or revaluation model, and depreciated so that its depreciable amount is allocated on a systematic basis over its useful life.

a) Discuss the importance of depreciation for satisfying the requirement for a true and fair view of accounting statements