Have you studied IAS 16 and the two methods of recognition (historic cost and revaluation)?
You have two choices of measuring non current assets under IAS 16. Where you apply the revaluation model then you state non-current assets in a particular class at market value at the reporting date.
31 December 2007 market value = $10,000
31 December 2008 market value = $12,000
You debit non current assets by $2,000 which reflects the uplift and credit revaluation reserve.
p.s. could i ask why you are posting links to youtube etc after each reply?
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