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Hi,
I was going through some notes and found out that in other comprehensive incomes remesurement of financial assets at fair value is included in OCI and as a reserve surplus in Statement Of FP, what do u mean by that ? Is it similar to Revaluation ? Pls explain with example and also Is excess depreciation transferred to Retained Earning? why is that?
Rather than have me write out a long response, may I refer you to an article in Student Accountant by Tom Clendon, reference:
Try that and then, if you still have a problem, post again
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