Provision and Events After Reporting Period

Hi,

I was very confused with the treatment of the following transaction.

A non depreciated asset purchased at cost of $250,000 on May 15th 20X5.
It appears that the asset was estimated to be value at $300,000 at December 31st 20X5. However, the revaluation was only confirmed after the year end. The year end for the company is December 31st 20X5.

This indicate a revaluation surplus of $50,000

My question is, how do you treat the revaluation of $50,000 when it was confirmed post year end?

My arguement would be this revaluation is a result of a past event thus making it as adjusting event. A provision has to be provided.

But I also wondering if this revaluation surplus should be treated as error in estimates under IAS8 thus an adjustment has to be made prospectively.

Can anyone give an insight on how to treat this transaction and which one is the correct answer? Thank you so much.