PPE – revaluation downwards – ACCA Financial Reporting (FR)

This topic has 2 replies, 3 voices, and was last updated 3 years ago by P2-D2.

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July 4, 2022 at 5:30 pm #659933
praveenmasih
Participant
- Topics: 2
- Replies: 7
Why are we not doing
Dr Revaluation reserve 3850
Dr Impairment loss 400
Cr PPE 4250
As we need to reduce RR with 3850?
Time_11:30
Thanks.
July 5, 2022 at 10:27 am #659985
AymanR7
Participant
- Topics: 12
- Replies: 13
This is exactly what he does in the lecture:
DR OCI (Revaluation Reserve) 3850
DR SPL (Impairment Loss) 400
CR PPE 4250
July 5, 2022 at 9:40 pm #660035
P2-D2
Keymaster
- Topics: 4
- Replies: 7232
Yes, I believe that is what is done. The DR goes through OCI and filters through to the revaluation surplus via the SOCIE.
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