Discussion Post
Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper resource from the Ashford Writing Center for proper use of citations.
An intangible asset is similar to any economic resource in that its value is equal to the sum of the present values of the projected cash flows related to use of the asset in operations. Plant assets are not revalued under U.S. GAAP, but revaluation is an option under IFRS. In your post, discuss the following:
a) What are some of the benefits of revaluation from the standpoint of a financial statement user?
b) What happens on the balance sheet when plant assets are revalued?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.