Recent Question/Assignment

Mr. Howe, a Junior Partner of the CPA firm Dewey, Cheatem, & Howe (DCH), is very excited about the opportunities created by fair-value revaluation of non-current assets. He believes that there is an enormous opportunity for large firms to increase their book profits via the gains from such revaluations.
Mr. Tu Dewie has asked you to review the AASB rules on the fair-market revaluation of non-current assets and to assess what profit enhancing opportunities may arise because of those rules.
NB: please remember that while Mr. Dewey is the senior partner of DCH, Mr. Howe (as a junior partner) can hurt you if you are not polite and considerate.