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Hello Sir, I would like to ask whether the revaluation surplus of the asset of the CGU can be net off with the related impairment loss? if the revaluation surplus specifically relates to the NCA of the CGU impaired?
Reference to Sept 2018 Q2(a) Farham – factory subsidence
If a specific asset is revalued upwards by 100 then impaired downwards by 150:
– 100 debited to revaluation reserve / OCI
– 50 debited to P&L as an expenseStephen Widberg wrote:If a specific asset is revalued upwards by 100 then impaired downwards by 150:
I will try to keep this in mind! Thanks!
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