IAS 16 .Asset derecognition.

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August 13, 2015 at 6:16 am #267014
Aun
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plz any body tell me that how will we treat loss on disposal of asset if there is previous revaluation surplus on that asset
August 14, 2015 at 1:24 pm #267161
hamsterham
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When a revalued asset is disposed of, any revaluation surplus may be transferred directly to retained earnings, or it may be left in equity under the heading revaluation surplus. The transfer to retained earnings should not be made through profit or loss.
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