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revaluation increase in SPL

This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.

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August 7, 2021 at 4:31 am #630632
Jiya024
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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?
August 7, 2021 at 6:48 am #630642
Stephen Widberg
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- Topics: 12
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This 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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