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| IFRS Accounting Terms |
(Q1)
What if the carrying amount of PPE is smaller than fair value at revaluation date? |
| If the entity is using cost model, no adjustment is required. |
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If the entity is using revaluation model: --> carrying amount will be increased to fair value. The amount of increase in carrying amount: --> is recognized in other comprehensive income --> is accumulated in equity section as revaluation surplus. |
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Back to IFRS Property, Plant and Equipment Accounting page. |
| IAS 40 - IAS 41 |
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IAS 40:
Investment property |
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IAS
40 Technical Notes |
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IAS 41:
Agriculture |
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