Ask Experts Questions for FREE Help !
Ask
    Nhiesh's Avatar
    Nhiesh Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 21, 2016, 04:09 PM
    Revaluation of monetary assets and liabilities
    My question is related to revaluation. What if the rate used to revaluate monetary assets and liabilities is 5 by end of oct then it raised to 10 by first week of Nov... Can I continue to use rate 5 for nov transactions and revaluate by Nov end ? Or should I change the rate for nov transactions to the new rate (10) and revaluate oct ending balance at Nov 1 . Is any of these treatments wrong ? What is the difference? Thanks

Check out some similar questions!

What is revaluation reserve entry after sale of assets [ 0 Answers ]

I Have one ship value $800,000/- as on 31-12-2011 against this asset I have revaluation reserve amounting $200,000/- for revaluation done in prior years. This Vessel sold on 01-01-2012 for $700,000/-. What is the entry to be passed & is loss on sale of asset can be adjusted againt revaluation...

Surplus on revaluation of fixed assets [ 0 Answers ]

heyy... I want to ask if surplus arisen on revaluation of fixed assets should be included in equity when I calculate return on equity ratio (ROE)= net income/total shareholder's equity. Please let me know asap!

Why IAS-16 requires the revaluation of non-current assets in the relevant classes of [ 1 Answers ]

Stars (Pvt.) Ltd. Recorded its assets on historical cost basis. It has never practiced to revalue its assets at current market price. The boards of directors (BODs) are shy whether they should adopt the policy of recording their assets on revaluation basis or not. According to IAS-16 (Property,...

View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.