However, a revaluation increase should be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset that was previously recognised in profit or loss.
professor can you pls explain the meaning of this sentence?
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revaluation increase in SPL
5y ago#1This is an FR point. You may find it useful to revisit out FR lectures on PPE
Land CA 100
Year 1 Revalue to 150. Gain to OCI
Year 2 Revalue to to 80. Of loss - 50 to OCI then 20 to P&L
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