- This topic has 1 reply, 2 voices, and was last updated 12 months ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
According with IAS 38, if a revaluation surplus is a reversal of revaluation decrease that was previously recognised in profit or loss, the increase can be recognised in PL. My question is: if the value of an asset was 100 USD and it revalued at 120 USD, therefore revaluation surplus 20 USD would be recognised in OCI. Then, the asset revalued again at 70 USD, therefore 20 USD revaluation loss would be recognised in OCI and the rest 10 USD would be recognised in PL. After that, a new revaluation has taken place and the asset revalued at 115 USD. So, should we recognise the whole revaluation gain (15 USD) in PL or 10 USD in PL and the remaining 5 USD in OCI?
Thank you.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.