suppose if there is a revaluation loss of 9000 and there is no previous yrs revaluation gain, how do u account this in the statements of accounts?
My answer- in the SOPL we have to show it as an impairment expense?
even in SOCIE we have to deduct ryt?
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Revaluation
10y ago#1I would show it merely in profit or loss as an impairment, probably within cost of sales (in effect, as under-depreciation - but it depends on the category of asset that we're talking about)
okay, suppose if there is a surplus gain in the previous yr we can deduct it from the SOCIE statement ryt?
10y ago#3yes, and comprehensive income
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