pricewell june 09

This topic has 2 replies, 3 voices, and was last updated 13 years ago by MikeLittle.

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May 29, 2012 at 11:37 am #52935
Vipin
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revaluation surplus on leasehold property is deducted from cost of sales.
no reason explained as such for this treatment. if i write this surplus in comprehensive income section, will that be right treatment?
May 29, 2012 at 5:04 pm #98517
acca13
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It’s reversal of impairment hence deducted from cost of sales.
May 31, 2012 at 3:46 pm #98518
MikeLittle
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I don’t remember the detail of the question but, if acca13 is correct and it is in fact a reversal of a previous impairment, then that explains why it goes through cost of sales and not into a Revaluation Reserve
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