Saunas4U Ltd adopts the cost model for measuring non-current assets. The business has seen a huge increase in demand for its products due to the pandemic affecting Australia in recent months. The owners have recently discussed with the CFO the possibility of changing to the revaluation model for measuring non-current assets.

Explain why the owners of Saunas4U Pty Ltd, would like to change the method of measuring non current assets during the pandemic. Discuss how changing the measurement of noncurrent assets from the cost model to the revaluation model influences the usefulness of financial information with reference to the fundamental qualitative characteristics of information prescribed by the Conceptual Framework for financial reporting