Q9: For those classes of Property, plant and equipment that a firm chooses to use the cost model, how do we value each item of Property, plant and equipment on an ongoing basis?

A:

For those classes of Property, plant and equipment that a firm chooses to use the cost model, each item of Property, plant and equipment is valued at:

“…cost less any accumulated depreciation and any accumulated impairment losses.”

AASB 116 Property, Plant and Equipment para 30

Study Guide Chap 5 page 5-10