Financial Accounting

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:  [900 words]

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 Australia Securities Exchange 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.