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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?
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