Revaluation in consolidation

If you are going to continue to insist on using tables for net assets, then the revaluation MUST appear in that table! Of course it must - it's an increase in net assets Of course, this only applies if it's a revaluation in the subsidiary because I assume that you don't prepare a net asset table for the parent If it's a post-acquisition increase in the net assets of the subsidiary, it must appear in the net asset table "as at reporting date" and the nci will also be given credit for their share of this increase OK?

Okay. So if its a revaluation on a parent's property, the adjustments will just be, +300 to other comprehensive income +300 to revaluation surplus We dont have to +300 to PPE right ? Also do we have to account for this in the group RE since its a revaluation on the Parent's property ?

"+300 to other comprehensive income +300 to revaluation surplus We dont have to +300 to PPE right ?" WHAT???? Where's your double entry? "Also do we have to account for this in the group RE since its a revaluation on the Parent’s property ?" Technically, no, you are correct. But you DO have to reflect it / account for it in Consolidated Revaluation Reserve

Sorry. You said that i'm correct on which part , my adjustments or the part where i ask if we have to account for the revaluation on Parent's property in the group retained earnings ?

"or the part where i ask if we have to account for the revaluation on Parent’s property in the group retained earnings " That part. The parent's revaluation shouldn't go to retained earnings, technically. But it should go to Group Revaluation Reserve

Okay so in summary. These are the adjustments for the revaluation on parent's property right? +300 to PPE, +300 to other comprehensive income +300 to revaluation surplus

Yes, that's correct

Thank you so much for answering all my queries so far. And very sorry if i had made troubled you with too many questions.

Anuja, we set out our stall to answer questions from students and no-one is counting how many you ask - we shall reply if we are still able to! Good luck tomorrow!

Thank you so much!

You're welcome