as per a stand what is mean by cost model and revaluation model what is the usage of this how can I identify this is cost model this is revaluation model??? AS10
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This discussion clarifies the distinction between the cost model and the revaluation model for non-current assets as per AS 10. The cost model values assets at acquisition cost less accumulated depreciation and impairment, with revaluation occurring only once. In contrast, the revaluation model uses fair market value, with regular revaluations. The key difference lies in the frequency and basis of valuation.
1)In Cost Model Non Asset is valued at the price spent to acquire the Asset less accumulated Depreciation and any Imperiment loss of an asset.
2) In Revaluation Model Non current Assets are shown at Fair market value price less accumulated Depreciation and any Imperiment loss of an asset .
So as per above method you can identify value of Non current Assets . valuation is done only one's in cost method and with regular intervals in revaluation method .