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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ias 12
Hi Mike!
1.If we have a surplus revaluation + a deferred tax liability, then the entry is
Dr- Tax exp
Dr- Revaluation Reserve
Cr- Deferred tax lability
2. However, my issue is that if we have a surplus revaluation + a deferred tax ASSET, then what will be the accounting entry?
If we have a surplus revaluation what combination of unlikely circumstances do you have in mind that could lead to a deferred tax asset?
