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IAS 16 PPE and Permits

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IAS 16 PPE and Permits

  • This topic has 2 replies, 2 voices, and was last updated 6 months ago by earphonelady.
Viewing 3 posts - 1 through 3 (of 3 total)
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    Posts
  • November 9, 2021 at 1:39 am #640249
    earphonelady
    • Topics: 4
    • Replies: 8
    • ☆

    Dear Sir,

    Want to clarify the Permits and PPE. Are there differences in the Revaluation Model as Permits’ revaluation gain or loss are Dr to the Accumalet depreciation (eliminate any accumulated depreciation).

    Thanks in advance Sir.

    November 13, 2021 at 8:33 am #640533
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6115
    • ☆☆☆☆☆

    Hi,

    Who or what it Permits? Is it a particular question?

    When we revalue an asset under the revaluation module we first remove the accumulated depreciation (DR) and then increase the cost to the revalued amount (DR). The balancing figure goes through OCI.

    Thanks

    December 2, 2021 at 4:00 pm #642327
    earphonelady
    • Topics: 4
    • Replies: 8
    • ☆

    Sir, Thank you so much.

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    Posts
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