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ACCA考试科目P7 A change in accounting policy – risk question

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Gale 发表于 2012-5-28 08:56:54 | 显示全部楼层 |阅读模式
ACCA考试科目P7 A change in accounting policy (Reval to cost model) – risk question


what is the financialstatement risk that arises when the question mentions that the

management wishto change the accounting policy from revaluation model to cost model under

IAS16?
Any past year questionthat test on this before?

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高顿ACCA 发表于 2012-5-28 13:12:01 | 显示全部楼层
Following risk can be arised:
1. Risk relating to revaluation reserve , reversing of all the revaluation reserve.
2. The depreciation charged while using revaluation model.
3. The cost on which the asset was actually bought.
4. The corresponding figures need to be adjusted.
5. Why management is shifting the policy from revaluation model to cost model is their too

much decline in the values of company’s fixed asset.
6. The risk of impairment losses.
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