02-14-2011, 07:54 PM
Can anyone answer?
Under IAS 40 (Investment Properties), Why do we credit P&L Account when property is revalued?
A/C entry
Dr Investment Properties
Cr P&L
and Under IAS 16 Property Plant & Equipment we only credited Revaluation Reserve when Property revalued.
A/C Entry,
Dr Property Plant and equipment
Cr Revaluation Reserve
Kindly explain this difference I am really confused about both concept...
Under IAS 40 (Investment Properties), Why do we credit P&L Account when property is revalued?
A/C entry
Dr Investment Properties
Cr P&L
and Under IAS 16 Property Plant & Equipment we only credited Revaluation Reserve when Property revalued.
A/C Entry,
Dr Property Plant and equipment
Cr Revaluation Reserve
Kindly explain this difference I am really confused about both concept...