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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Revaluation Gain/Loss in Financial Statements
Hi,
If a non-current asset is revalued from historical cost to fair value by $3m, will it be included in Statement of Profit or Loss and Other Comprehensive Income as Revaluation Gain, and at the same time Cr Revaluation Surplus in Statement of Financial Position?
Thanks in advance. 🙂
Yes, it’s in both
