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Revaluation loss vs Impairment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Revaluation loss vs Impairment

  • This topic has 3 replies, 3 voices, and was last updated 7 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 14, 2018 at 9:47 pm #446675
    Sanjana
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Could you please explain the difference between impairment and revaluation loss of asset and their respective accounting entries.

    Thank you.

    April 15, 2018 at 5:07 pm #446723
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7221
    • ☆☆☆☆☆

    Hi,

    They are both the same thing, i.e. the reduction in value of an asset. We sometimes refer to the impairment of an asset that has been previously revalued upwards as a revaluation loss.

    Any impairment will go through profit or loss, unless it relates to a revaluation loss when the reduction in value goes through other comprehensive income first.

    Thanks

    April 16, 2018 at 8:38 am #447194
    aamirhada
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    Hello , can u be my study buddy ? for june attempt

    April 19, 2018 at 9:39 pm #448184
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7221
    • ☆☆☆☆☆

    @aamirhada said:
    Hello , can u be my study buddy ? for june attempt

    You’re best to go via the correct route for this. Just click on the ‘StudyBuddy’ tab at the top of the page.

    Thanks

  • Author
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