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IAS 16

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 16

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • March 30, 2021 at 2:14 pm #615515
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    sir as per IAS 16 as revaluation gains held in revolution surplus are transferred to retained earnings upon disposal of the asset-MANDATORILY, right?

    while there is CHOICE to transfer any excess depreciation from revaluation reserve to retained earnings?

    March 31, 2021 at 12:05 pm #615594
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2518
    • ☆☆☆☆☆

    Reserve transfers are really FR not SBR.

    No real reason why annual transfer is ‘optional’ – it’s always been that way – I think most companies do it to keep lawyers happy when calculating distributable profits.

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