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Hi Mike,
Can you please explain why we calculate depreciation on the full revalued amount when we prepare financial statements for a single company, and only on the fair value adjustments (difference between carrying amount and fair value) in the questions for consolidated financial statements?
Shall I take it that it is just the way the questions and tasks have been constructed?
Many thanks,
OlgaNo, it’s because the original pre-fair-valued adjustment carrying value will have been depreciated in the ‘normal’ way within the entity’s records
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