[Oimie]

“An important difference between US GAAP and IFRS is that IFRS allows reversals of previously recognized impairments if the historical cost method is used.

– If cost method used; reversal of impairment losses recognized in the income statement

– If revaluation method used; the recovery would be recognized in other comprehensive income”

This “historical cost method” that it mentioned, it’s referring to the cost model and revaluation model and NOT some other method right?

FAR 85 June 2015
AUD 80 Nov 2015
REG 83 Nov 2015
BEC 79 Feb 2016