The company is considering moving from the cost method to the revaluation method. To support this move, the proposed asset revaluation and associated disclosures prepared in Part A have been presented to a meeting of senior management.

A number of managers reject the proposal to move to the revaluation model, saying they dont want to increase the companys tax payments just because of a profit made on the revaluation of an asset.

You have been given the task of responding to this statement via a 1,000-word report which will be distributed to senior management. You need to use relevant Accounting Standards to help support your argument. However, remember your audience (senior management) are not accountants, so you need to use the standards to support your argument but dont just quote large sections of the standards, as management wont read them