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[QUOTE="Yakub02, post: 308805, member: 94426"] When a non-current asset is revalued, its ‘carrying amount’ in the statement of financial position is adjusted to its fair value at the date of the revaluation. An increase in value is credited to other comprehensive income and accumulated in equity under the heading of revaluation surplus. (However, an increase is recognised in profit or loss if it reverses a revaluation decrease on the same asset that was previously recognised in profit or loss). A decrease in value is recognised in profit or loss. However, a decrease is recognised in other comprehensive income if it reverses a revaluation increase on the same asset that was previously recognised in other comprehensive income. After a non-current asset has been revalued, depreciation charges are based on the new valuation. [/QUOTE]
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