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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › revaluation gain vs revaluation surplus
what is the difference if any between a revaluation gain and revaluation surplus?
I’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?
so how will they be treated in the income statement and
balance sheet
Revaluations 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?
Thank you
You’re welcome