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REVALUATION SURLUS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › REVALUATION SURLUS

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by AvatarMikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • July 9, 2016 at 11:41 am #324944
    Avatarthaohuyen67
    Member
    • Topics: 23
    • Replies: 30
    • ☆☆

    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.

    July 9, 2016 at 6:44 pm #325008
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    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!

    July 10, 2016 at 1:33 am #325108
    Avatarthaohuyen67
    Member
    • Topics: 23
    • Replies: 30
    • ☆☆

    Thank you for your support. 🙂

    July 10, 2016 at 9:18 am #325204
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    You’re welcome – I presume that you shall wear it always!

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