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Recognition of property plant and equipment on a basis other than historic cost, while possible is problematic. An example of this is provided by Tilt

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Recognition of property plant and equipment on a basis other than historic cost, while possible is problematic. An example of this is provided by Tilt Renewables. Required 1. Identify the accounting standards addressing the accounting requirements for property plant and equipment on a basis other than historic cost 2. With reference to the accounting standards discuss the requirements of the standards. 3. Discuss the challenges in determining the values for assets when they are not recognized on an historic cost basis

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