[KERI0323]

Quick question on a discrepancy I found between Becker and Wiley. Becker states that when using the revaluation model for intangibles under IFRS that losses are recorded on the income statement unless they reverse a previously recognized gain in OCI and gains are recognized in OCI unless they reverse a previously recognized loss on the income statement. However, a question in Wiley tells me that losses and gains on revaluations are recorded in OCI. Anybody have any futher information that may help me earn a point or 2 on my exam tomorrow?

BEC 10/11/2010 77
AUD 11/30/2010 81
REG 02/25/2011 78
FAR 11/28/2011 74,68, 83 and DONE!!! NTS LA #460

[MICPA87]

Becker is correct. I think I ran into this problem too, so I googled it and found some IFRS literature that confirmed what Becker had to say.

FAR(11/14/11)- 92
AUD(01/04/12)- 91
REG(05/30/12)- 93
BEC(07/21/12)- 88

CPA - Michigan

[Author]

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