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Now I’m really confused. The standards says another thing. In the exam kit they have not recognised the gain on the revaluation of 600. Please help I’m self-studying. Has someone forgotten to update somewhere in the books or standard? Thank you
On original classification, measure at lower of carrying value and fair value less costs to sell. Subsequent measurement is at fair value with any gains going through profit or loss but only up to the value of previous impairments of this asset (if any).
Any excess over previous impairments will go through OCI
Better?
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