Watch Sir Luqman Rafiq explaining IAS 16 PPE (Revaluation Model).
As per IAS 16 Property Plant and Equipment (PPE) asset is initially measured at cost. For the subsequent measurement of a PPE, an entity has a choice of Cost Model or Revaluation Model.
In this video, our expert tutor explains reasons for which revaluation model was introduced and how revaluation of PPE can be accounted for using either gross replacement method or net replacement method.
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Timestamps:
00:00 Intro to IAS 16 (PPE) Property Plant and Equipment
00:36 Cost Model vs Revaluation Model under IAS 16
00:52 What is Cost Model under IAS 16
01:08 What is Revaluation Model under IAS 16
02:12 What exactly we need for Revaluation Model under IAS 16
03:55 Example question - How to Revalue an Asset - Revaluation model (IAS 16 PPE)
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Luqman Rafiq | Revaluation Model under IAS 16 PPE
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