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Hello i just came across a question where there was a revaluation upward on a financial asset. In the answer it says that the difference is credited to p/l( elected at fair value through p/l) but it didnt specify under which heading…… So my question is under which heading does the rev gain from the fin assets goes?
i know that gain on revaluation from ppe goes in other comprehensive income then transferred to statement of changes in equity.
Sir Mike:is it ok to write is as a gain on fin.asset instead of inclusing in other income?
I really don’t think it matters if you describe it a Little Bo Peep’s Lost Sheep! Are we really getting down to the fine details of nomenclature when I’m trying to get away from Hasanali’s endless questions so I can concentrate on F7 posts because their exam is tomorrow?
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