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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › REVALUATION SURLUS
Hi Mike,
What is the difference between P/L and OCI?
Why Revaluation surplus is not an income on P/L, it is one of component of OCI?
Please explain it for me.
Thank you very much.
It’s not a surplus achieved in the ordinary course of business so Other Comprehensive Income is the place it should be shown
Why? Because that’s that the accounting standards say we should do!
Thank you for your support. 🙂
You’re welcome – I presume that you shall wear it always!