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impairment loss on a revalued asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › impairment loss on a revalued asset

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.
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  • June 30, 2021 at 1:30 pm #626697
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    sir can OCI have a negative balance on the face of SPLOCI? Like when impairment is being charged on an asset that was revealued upwards several years ago, but now has a recoverable amount below the carrying amount, so can we show that impairment loss as a negative figure in OCI on the face of SPLOCI.

    June 30, 2021 at 5:13 pm #626713
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3427
    • ☆☆☆☆☆

    Please revise non-current assets.

    If impairment exceeds the earlier revaluation upwards, excess goes to P&L not OCI

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