Asset Revaluation Frequency

Section 5.1.11 of AASB 1041 states that:

"Where a class of non-current assets is measured on the fair value basis, the frequency of revaluations depends on the frequency and materiality of changes in the fair values of the assets within that class of non-current assets. Where the fair value of an asset in the class of non-current assets being revalued differs materially from its carrying amount, a revaluation is necessary. Some non-current assets may experience frequent and material movements in fair value, thus necessitating revaluation each reporting period. Such frequent revaluations are unnecessary for non-current assets that experience only immaterial movements in fair value. In these circumstances, revaluation every three years may be sufficient. The requirement in paragraph 5.1(b) may be met by indexing the carrying amounts of non-current assets in reporting periods between more comprehensive valuations."

Related Pages


The following site members have contributed to this page:

External Links & References

  1. Google Search
  2. AASB 1041
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License