Fixed Assets - EBS (MOSC)

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FA Revaluation

edited Nov 1, 2018 5:09AM in Fixed Assets - EBS (MOSC) 1 commentAnswered ✓

I want to know exact way of doing fixed asset revaluation for fully reserved assets. When i did this the report went error. the log file says "You must enter life extension factor to revalue the fully reserved assets that are depreciating under life based depreciation method."

Also what are the steps to be perform when revaluation done for following scenario:

Suppose on December 31, 2012, Acme Ltd. revalues the building again to find out that the fair value should be $160,000. The carrying amount as of December 31, 2012, is $190,000 minus two years depreciation of $22,352 which amounts to $167,648.

Best Regards,

Yehani Amindra

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