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PPE – revaluation downwards – ACCA Financial Reporting (FR)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › PPE – revaluation downwards – ACCA Financial Reporting (FR)

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • July 4, 2022 at 5:30 pm #659933
    praveenmasih
    Participant
    • Topics: 2
    • Replies: 7
    • ☆

    Why are we not doing
    Dr Revaluation reserve 3850
    Dr Impairment loss 400
    Cr PPE 4250

    As we need to reduce RR with 3850?

    Time_11:30

    Thanks.

    July 5, 2022 at 10:27 am #659985
    AymanR7
    Participant
    • Topics: 12
    • Replies: 13
    • ☆

    This is exactly what he does in the lecture:
    DR OCI (Revaluation Reserve) 3850
    DR SPL (Impairment Loss) 400
    CR PPE 4250

    July 5, 2022 at 9:40 pm #660035
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7060
    • ☆☆☆☆☆

    Yes, I believe that is what is done. The DR goes through OCI and filters through to the revaluation surplus via the SOCIE.

    Thanks

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