Question: Property, Plant and Equipment (PPE) require each class of PPE to be measured at either cost or revaluation model (fair value). You are required to write a report, containing two parts:

Part 1:Please use around 200 words to summarize the following academic paper:

Yoo, C-Y., Choi, TH., and J. Pae. 2018. Demand for fair value accounting: The case of the asset revaluation boom in Korea during the global financial crisis. Journal of Business, Finance and Accounting 45: 92-114.

Part 2: Select one company listed on the ASX that revalued the non-current assets in its 2016 or 2017 annual report. Use around 700 words to:

1) discuss why this company elected to revalue its non-current assets; and

2) summaries all possible factors that companies would consider when deciding whether to revalue their non-current assets.

Please support your discussion by citing specific references such as newspaper articles, staff papers from AASB, articles from practitioner journals and scholarly journals.

Submission Details: • Use a font size of 12 point and a margin of 2.5 cm on the left and right hand side of the page. Staple the assignment in the top left hand corner.

• Students are to take the MAXIMUM WORD LIMITS that are detailed for each task as a guide only. The word limit excludes calculations, appendices, tables and charts. PLEASE SHOW THE WORD COUNT in your assignment.

• Ensure that all sources of information are acknowledged in your bibliography.

• Use the APA/Harvard styles (author-date system) for citations.