When a company sells equipment that had previously been remeasured to fair value under the revaluation model

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When a company sells equipment that had previously been remeasured to fair value under the revaluation model of IAS 16, it transfers the revaluation surplus from accumulated other comprehensive income directly to retained earnings. What adjustments must be made to accumulated other comprehensive income when preparing consolidated financial statements if the sale is from the parent to the subsidiary?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Modern Advanced Accounting In Canada

ISBN: 9781259066481

7th Edition

Authors: Hilton Murray, Herauf Darrell

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