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Revaluation decrease

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Revaluation decrease

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.
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  • May 31, 2020 at 3:27 pm #572432
    star98
    Member
    • Topics: 11
    • Replies: 2
    • ☆

    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?????

    June 1, 2020 at 2:09 pm #572510
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    I 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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