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Revaluation depreciation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Revaluation depreciation

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by P2-D2.
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  • August 28, 2022 at 3:07 pm #664519
    shentok
    Participant
    • Topics: 1
    • Replies: 2
    • ☆

    Hello
    I’m finding it difficult to know when I should apply depreciation to assets which are revalued. Some questions seems to take into account depreciation right up until the point of revalue (if it’s part year for instance) but another explained in the answer that as it was using the fair value model, no depreciation would be charged.
    Is it perhaps different depending on whether it is an investment property?

    September 1, 2022 at 7:38 pm #664890
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7156
    • ☆☆☆☆☆

    Hi,

    We depreciate assets under IAS 16, where we depreciate the revalued amount over the remaining useful life of the asset.

    Note, that for investment property we revalue to fair value with gains/losses taken through profit/loss and there is no depreciation charged.

    Thanks

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