Is Your Understanding of the Treatment of Revaluations “Impaired”?

BLOG Colosseum: revaluation of asset previously impaired

Here’s a question for AAT Level 4 (Professional Stage) Students: “Is a revaluation gain included in the P&L to the extent that an asset was previously impaired, with any further gain being recognised in the revaluation reserve?” (27 words) Answer 1. Yes (1 word) Answer 2 (324 words!) The reason is that: Because the previous […]