Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › revaluation gain vs revaluation surplus
- This topic has 5 replies, 3 voices, and was last updated 10 years ago by MikeLittle.
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- February 26, 2014 at 5:53 pm #160458
what is the difference if any between a revaluation gain and revaluation surplus?
February 26, 2014 at 7:29 pm #160475I’m not sure I would care to distinguish them unless “gain” relates to “this year” whereas “surplus” could be interpreted as a cumulative amount of prior revaluations
Ok?
February 27, 2014 at 8:46 am #160610so how will they be treated in the income statement and
balance sheetFebruary 27, 2014 at 3:16 pm #160830Revaluations this year will appear in Comprehensive Income unless it’s a “surplus” revaluation where the surplus will go to Income Statement
In the Statement of Financial Position, the asset will be reduced by the full impairment or will reflect the full revaluation upwards
Ok?
March 4, 2014 at 3:41 pm #161449Thank you
March 4, 2014 at 6:00 pm #161454You’re welcome
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