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Please help me out to know which amounts of revaluation up and then down adjustments will go to OCI and P&L if there is no transfer of depreciation and also if there is transfer..separatly for SOFP and SOP&L OCI statements?
Hi,
Revaluations upwards will go through other comprehensive income, and then any excess depreciation will be processed as a reserve transfer.
Any impairment of a revalued asset goes through other comprehensive income first and then additional goes through profit or loss.
Thanks
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