Difference between revaluation of asset by a valuer and by fair value?

This topic has 2 replies, 2 voices, and was last updated 7 years ago by manan66.

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August 23, 2018 at 1:29 pm #469087

manan66
Member

Hi

What is the difference between revaluation of a NCA by a valuer and by fair value?

why do we not take the appreciation in fair value into account to the revaluation reserve?

thanks

August 24, 2018 at 4:28 pm #469257

P2-D2
Keymaster

Hi,

Sorry, but I’m not 100% sure about your question above. NCA (PPE?) is valued to fair value if held under the revaluation model and the valuation must be carried out by a qualified valuer.

The increase in fair value is taken through other comprehensive income.

Hope this helps, but let me know if you need more information.

Thanks

August 25, 2018 at 7:08 pm #469413

manan66
Member

thanks i got it.
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