Non-current Assets - Revaluation 4 / 41

Increase goes to OCI and RR

Basic double entry steps:

  • Dr Accumulated depreciation
    Cr Revaluation Reserve

  • Dr Cost
    Cr Revaluation reserve

An impairment downwards after a revaluation

  • Dr the revaluation reserve first

    then

    Dr the Income statement

Keep the revaluations up to date

So change only when necessary (not always every year)

We use cookies to help make our website better. We'll assume you're OK with this if you continue. You can change your Cookie Settings any time.

Cookie SettingsAccept