Accounting for a revalued impaired asset
Currently the accounting for a revaluation of an impaired asset produces two entries to the value of the revaluation to the revaluation reserve.
e.g an asset with the cost of £12,000 and an impairment of £250.00 revalued by £1,200. Produces the two lines of £-950.00 and £-250.00 to the revaluation reserve. We would like the line of £-250.00 applied to a different account (Impairment Expense). Please could anyone advise how we could achieve this.
Thanks