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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Minco june 14
Hi tutor,
For part d in question minco
I didnt understand why the gain restriced to 380,000
Whats the rule here?
Hi,
We can only reverse out any previous impairment losses and cannot revalue it above the value it would have been held at.
Thanks
Am sorry i didnt understand your answer if u can explain it in other words i will be grateful.
Thanks
Hi,
If we have impaired the asset previously by 50,000 then we can only revalue it back up by the same amount, we cannot go any higher than this.
Thanks