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+--- Thread: Value of an asset - A question (/thread-value-of-an-asset-a-question)
Value of an asset - A question - honeydew - 07-16-2005
why is writing up of asset more than their original cost wrong?
- maani - 07-17-2005
Assets can be shown at their revalued amount but in that case the Revaluation Account is to be credited by the increased amount.
Ace
- ibrishah - 08-14-2005
Acording to IAS 2, The can also be carryied at there Revalued amount but in that case you have creat a new account Surplus on Revaluation of Asset. this account balances the excess and form part of balance sheet.
Ibri