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loss on revaluation

This topic has 2 replies, 3 voices, and was last updated 7 years ago by John Moffat.

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June 22, 2017 at 2:44 pm #393811
scelothande
Member
- Topics: 2
- Replies: 5
hello! loss on revaluation is only charged to SOCI right? do we transfer it to revaluation reserve like gains?
June 22, 2017 at 3:06 pm #393814
hanningtonsserwadda
Participant
- Topics: 27
- Replies: 20
I don’t think we should transfer the loss to revaluation reserves unless it is a reversal of a previous loss for the same asset.
June 23, 2017 at 7:11 am #393861
John Moffat
Keymaster
- Topics: 57
- Replies: 54478
hanningtonsserwadda: You are correct, but please don’t answer in this forum, because it is Ask the Tutor.
scelothande: hanningtonsserwadda is correct 🙂
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