Question A3 role efforts towards the a) Discuss the of the IASB and its standardisation/harmonisation of accounting standards. (10 marks) (b) IAS 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. (10 marks) Total: 20 marks Section Total: 75 marks