loss on revaluation

This topic has 2 replies, 3 voices, and was last updated 8 years ago by John Moffat.

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June 22, 2017 at 2:44 pm #393811
scelothande
Member
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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
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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
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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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