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+--- Thread: Why we credit Profit and Loss account under IAS 40 (/showthread.php?tid=9517)
Why we credit Profit and Loss account under IAS 40 - farrukh090 - 02-14-2011
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...