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When we have any fair value adjustment in Non-Current Asset so we simply do in fair value adjustment in Net Assets of Subsidiary (Working 2). We do not show any revaluation surplus or reserve increase. Why that so? If we are changing Fair value of NCA so shouldn’t it increase Revaluation Surplus at date of reporting.
Please help Professor.It is only done in the consolidated accounts and affects the goodwill calculation.
The assets are not being revalued in the SOFP’s of the individual businesses.
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