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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?I 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?
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