Revalued value model under IAS: IAS 16 and IAS 38

Abstract

In this paper the differences between the International Accounting Standard (IAS) and the General Accounting Plan 2007 (PGC 07) in the treatment of tangible and intangible assets are exposed. As discussed before the main difference is that in the model the IAS model revalued amount is collected, accounting alternative that was not included in the PGC 07 so results in a significant difference between the two accounting models.