- This topic has 2 replies, 2 voices, and was last updated 6 years, 9 months ago by .
-
Topic
-
I am solving the MCQs from FAR Becker’s F1. I came across a few questions where the explanation said you’re supposed to exclude revaluation loss from OCI and instead, put it under income statement. However, I came across another question that had a revaluation surplus related to an asset in year 1 and a revaluation loss related to the same asset in year 2. Here, the explanation says you’d put the revaluation loss for year 2 under OCI to offset the revaluation surplus from the prior year. So where does revaluation loss really go — OCI or income statement?
AUD - 79
BEC - 80
FAR - 83
REG - 78Ethics - 97"If it were easy, everyone would do it."
"Hard work, perseverance, faith, blessings."
Viewing 2 replies - 1 through 2 (of 2 total)
Viewing 2 replies - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.