CERTYNEX IFRS ACADEMY

A group has chosen the revaluation model of IAS 16 for its land. What is IFRS 13's part in measuring a revalued piece of land?

IFRS 13 requires the group to adopt the revaluation model rather than the cost model.

IFRS 13 provides the fair value method; IAS 16 keeps the choice of model.

IFRS 13 decides whether the increase in value goes to other comprehensive income or to profit or loss.

IFRS 13 replaces IAS 16 for every subsequent measurement of the land, including depreciation.