List two information which are required by aasb

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AASB 116 Property, Plant and Equipment requires an entity to select either cost model or revaluation model to measure one class of property, plant and equipment. Similarly, AASB 136 Impairment of Assets prescribes the procedures that an entity applies to ensure that its assets are carried at no more than their recoverable amount. Please discuss the following questions:

Question 1: If the revaluation model is used, entities must disclose relevant information for users of financial statements. Please list two (2) information which are required by AASB 116.

Reference no: EM132569737

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