From DRC to CRC: what the shift in cost approach terminology actually means
Current replacement cost has displaced depreciated replacement cost as the right term for cost-approach fair value - but the change is more than a label refresh. Here is what AASB 13 and AASB 2022-10 actually changed, and what it means for public sector entities.
AASB 2022-10: Transforming Public Sector Asset Valuations
AASB2022-10 for Government Assets is now in full swing. It brings some important underlying considerations for Government/NFP public sector financial reporting.
