Question
Nisi Co measures an intangible asset at fair value. The asset was revalued by GHS 400 in 20X3, and there is a revaluation surplus of
Nisi Co measures an intangible asset at fair value. The asset was revalued by GHS 400 in 20X3, and there is a revaluation surplus of GHS400 on the statement of financial position. At the end of 20X4, the asset is revalued and a downgrade of GHS 500 is required.
Required:
Explain the accounting treatment of downward revaluation.
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The accounting treatment of a downward revaluation of an intangible asset is as follows The carrying ...
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International Financial Reporting And Analysis
Authors: David Alexander, Ann Jorissen, Martin Hoogendoorn
8th Edition
978-1473766853, 1473766850
