Financial statement, Financial Management

A company commissioned a valuation of its land and buildings for inclusion in its financial statements. The valuation document contained the following details:

 Reconstruction cost           10
 Open market valuation      14
 Existing use valuation       12
 Expected selling costs       0.2

The company's internal calculations indicate a value in use for the property of $16 million.


Determine the value at which the property should be recognised in the financial statements if the company uses the revaluation model.

Posted Date: 3/15/2013 2:49:18 AM | Location : United States

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