If an asset’s carrying amount is decreased as a result of a revaluation, the decrease shall be recognised in the profit and loss account.
Why won't it be recognised in OCI in the first instance like we do for revaluation increase?????
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Revaluation decrease
6y ago#1I assume you are referring to PPE.
You can only recognise it in OCI if it's reversing a previous revaluation upwards on the same asset.
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