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Incremental depn upon revaluation under IAS 16.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Incremental depn upon revaluation under IAS 16.

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
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  • October 18, 2015 at 1:25 pm #276995
    Sandy
    Member
    • Topics: 12
    • Replies: 5
    • ☆

    Dear sir,

    Would be indebted if you could answer the following three questions!

    1)According to the latest IASs, is it allowed to transfer incremental depreciation to the OCI (of an item of PPE) upon switching to revaluation model from cost model?

    2)Also, is revaluation of Owner Occupied Property allowed?

    3)And what are the impacts of incremental depreciation? Do we just disclose its impact on the P&L for the year?

    Thanks in advance. 🙂

    October 18, 2015 at 2:05 pm #277002
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    1) Not sure that I understand your question – are you talking about the excess depreciation required as a result of a revaluation increase? Such a transfer is not a requirement, but it is encouraged

    2) What? Of course it is!

    3) No impact. Maybe a disclosure note may be decided upon but, otherwise, no impact

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