If the recoverable amount given is greater than the carrying value, I understand there will be no impairment loss; however, curious to know if it can be considered as a revaluation, thus creating a revaluation gain? Or are they two completely separate things?
It could well be that the asset is not held under the revaluation model and so there would not be any potential to revalue the assets anyway as it is not our policy. It’s probably easiest to then think of them as two separate things and therefore there is no revaluation gain.