Acct3000 Accounting| Revalue The Property Assessment Answers
Required
You are required to answer the following questions:
(a)What might motivate directors not to revalue the property, plant and equipment?
(b)What are some of the effects the decision not to revalue might have on the firm’s financial statements?
(c)Would the decision not to revalue adversely affect the wealth of the shareholders? intext cite
Answer:
a.The AASB 1041 Revaluation of the Non-Current assets (2001) posits that, “revaluation implies the act of recognizing a reassessment of carrying amount of the non-current asset to its fair value as at a specific date, but leaves out recoverable amount write-downs and impairment loss”. Fixes Asset (FA) revaluation can either be downward or upward. The latter can either surge the FA value and shareholder equity value or decrease financial leverage ratio. Property, Plant and Equipment (PPP) is Non-current fixed asset that has been bought by firm to hold or use for a duration more than 1 year from the balance data and is not meant to be resold in normal trading course (Herrmann, Saudagaran and Thomas 2006).Buy Acct3000 Accounting| Revalue The Property Assessment Answers Online
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