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transfer of property from IAS 16 to IAS40

Bbilal11y ago
sir i am confused about the chrging of depreication in the property !! if we have property clasified under IAS16 we will chrge depriciation to I/s if there is some kind of revaluation we will increase the value of asset and revalation surplus as well plz tell me weather m right or wrong ?? and 1 more question if we trnsfer clasification of our asset from IAS 16 to IAs 40 then we will bot chrge any depreication ??? we will only chrgee increase in property to I/S ?? n no where else ?? n kindly tell about the revaluation n its treatment i will be gratefull if u answer quikly as we have our examination tomarrow lol :)
Bbilal11y ago#1
*not charge any depriciation (correction mistake )
MikeLittleMikeLittleTutor11y ago#2
IAS 16, charge depreciation IAS 40, no depreciation. Any change in IAS 40 property value to PorL Revaluation of IAS 16 property goes through revaluation reserve Is that enough?
Bbilal11y ago#3
yes :D
MikeLittleMikeLittleTutor11y ago#4
You're welcome
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