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ias 16 revaluation.

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ias 16 revaluation.

Hello everyone,

just wanted to confirm something

any revaluation increase is taken to OCI (other comprehensive income) and/or to Revaluation surplus

and decrease in revaluation is taken to OCI and/or to Revaluation Surplus.

But the reversal of previous decrease is taken to P&L first and then to Revaluation Surplus.

But what about the reversal of previous increase?

Correct me if I am wrong anywhere.

Thank you.

December 1st 2016 AN ACCA USER 120 Points

1 Reply

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I think previous Increase was taken to Revaluation Surplus (R/S) and realized over the remaining useful life of the asset in the P/L. Any subsequent revaluation losses will be taken to the R/S to the extent of the remaining balance in the account for that asset and any remaining loss will be taken to the P/L.

January 28th 2017 AN ACCA USER 140 Points