Value of an asset - A question

[honeydew]

why is writing up of asset more than their original cost wrong?

[maani]

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]

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