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Hi Sir,
I’m a bit confuse by this 2 terms. Revaluation represent the change in fair value. While impairment represent the amount by which the carrying amount of an asset exceed its recoverable amount.
If the above statement are correct, then what’s the difference between a revaluation loss and an impairment loss. Is it not the same thing?
Thank you for your time and consideration Sir
Hi,
An impairment loss and revaluation loss are the same thing, it is just different terminology that is being used for the same thing.
Thanks.
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