[Shayaan26]

i. In case of downward revaluation. we first Dr. Remaning surplus balance and record the difference in Profit or loss.

ii. If subsequently, the asset results in upward revaluation, we first reverse the loss recorded in profit and loss earlier and then record the difference in OCI Revaluation surplus.

My question is, what is the amount of loss which has to be reversed in point ii.

Example:

i. Surplus Dr.
P&L Dr.
PPE Cr.

ii. PPE Dr.
Surplus Cr.
P&L Cr. (This figure should be same as we have recorded in i. ? )

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