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3 Cards in this Set
- Front
- Back
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Recognition criteria (2) |
1. Probable future economic benefit 2. Cost can be reliably measured |
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Two valuation models: |
Cost model - historical cost Revaluation model - fair value (Both options only available under IFRS) |
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Capitalized costs |
- purchase price - cost to bring asset operational - cost to dismantle, ARO, ect - borrowing costs (ASPE can either capitalize interest or expense) |
