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IFRS 5 – DO and NCA HFS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IFRS 5 – DO and NCA HFS

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by AvatarP2-D2.
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  • December 25, 2024 at 7:17 pm #714325
    AvatarMustafy
    Participant
    • Topics: 10
    • Replies: 8
    • ☆

    Hi,

    I wanted to ask regarding the revaluation model of IFRS 5, Chris mentioned that IAS 16 revaluation model is the applicable model to IFRS 5 for Revaluation, which requires revaluation differences (gains/loss) be recognized in Other Comprehensive Income (OCI), however, in the example 1 that Chris solved, he recognized the Impairment from revaluation in SPL.

    I would like to confirm what the right way is.

    Thank you.

    January 22, 2025 at 11:26 am #714894
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7235
    • ☆☆☆☆☆

    Hi,

    Under the revaluation model the losses would go through OCI if there has been a previous revaluation upwards and so OCI reserves available to use. If there are no OCI reserves to utilise then the loss would go through profit or loss as is seen in the example.

    Thanks

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