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An asset is carried at revalued amount and already has some credit balance in revaluation surplus. Then any impairment takes place which can be charged against the previous revaluation.
After that, the reversal of previous impairment takes place.
Can we take this reversal of impairment amount to credit revaluation surplus or we always have to take reversal of imapirment to credit SOPL irrespective of whatever balance is there in revaluation account ?Hi,
The reversal of the impairment goes wherever the original impairment went, so if the impairment went through profit/loss originally then it will have to go through there. If the impairment went through OCI, as it appears to have done in your point above, then it will go through OCI.
Thanks
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