Upward reval: IAS 16Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Upward reval: IAS 16This topic has 1 reply, 2 voices, and was last updated 11 months ago by P2-D2.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts April 21, 2022 at 8:12 am #654174 Sourav9271ParticipantTopics: 169Replies: 119☆☆☆Sir, Dr Asset (Upwards reval)(sofp) Cr Reval reserve (sofp). Isn’t it?Further,Cr OCI DR ?Quite confused ’bout the double entry.. April 22, 2022 at 11:39 am #654281 P2-D2KeymasterTopics: 4Replies: 6493☆☆☆☆☆You do not need a second double entry, you only need the first one. Effectively the gain goes through OCI and then this is highlighted in the statement of changes in equity increasing the revaluation surplus.ThanksAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In