As the carrying amount is the recorded cost of an asset, net of any accumulated depreciation or accumulated impairment losses. I want to ask :"is revaluation surplus of assets included in the calculation of carrying amount of assets ?"
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carrying amount of assets
2y ago#1Hi,
If the asset is revalued then the cost is replaced by the new revalued amount. The adjustment made to increase the CV to the revalued amount is the surplus, which is recorded through OCI.
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