Revaluation for building and impairment loss for machinery

Assignment Help Financial Accounting

Reference no: EM131820754 , Length: word count:300

FINANCIAL ACCOUNTING ASSIGNMENT - CASE DATA FOR GYM LIFE PTY LTD

Just need answer to following question: Briefly explain why, after the fire, Rebecca and Dario do not want to record the revaluation for the building and impairment loss for the machinery and whether they can change from the revaluation to the cost model for the building. Identify and discuss which qualitative characteristics of financial reporting would be violated if the revaluation and impairment loss are not recorded.

Just 250-300 words needed.

Attachment:- Gym Life Pty Ltd Case Data.rar

Reference no: EM131820754

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