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Ok so unlike GAAP, IFRS will allow you to report property plant and equipment at a revalued amount. There are some tricks though.
For simplicity, pretend an asset of $1,000,000 -- a rare book collection
If you revalue UP first, you create a "Revaluation Surplus" that flows to OE directly, bypassing the income statement. If you revalue DOWN after that, you must first re-duce the surplus to 0, then anything beyond that is a loss on the income statement
If you revalue DOWN first it's a loss and goes directly to income statement. Where im confuse is after this, if you write it up, is the limit the original price? and if you can go over that.. then is it revaluation surplus w/ same rules from above if you have to write it down afterwards??
any1 ? |
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发表于 2011-7-11 18:27
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