IAS 16 Property, plant and equipment permits users to follow two accounting models: 1. The...
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Accounting
IAS 16 Property, plant and equipment permits users to follow two accounting models:
1. The cost model
2. The revaluation model
a. Provide an explanation of each model and the impact that it would have on the financial statements.
b. Illustrate your answer (showing how this could be reflected in the financial statements) with a relevant example.
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