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AO01 2022 PPE - Coggle Diagram

- - - - Additions
        
        Accumulated depreciation and impairment
        
        Cost
        
        Carrying value at beginning of the year
      - Disposals
        
        Depreciation
        
        Impairment
        
        Fair value adjustments (P/L)
        
        Cost
        
        Accumulated depreciation and impairment
        
        1 more item...
- - - - Cost Model
        
        The asset is carried at its Cost LESS Accumulated Depreciation and any Accumulated Impairment Losses
      - The Revaluation Model
        
        The asset is carried at its Fair Value LESS any Subsequent Accumulated Depreciation and Impairment Losses.
- - - - How to :star:Calculate the Revaluation Reserve
        
        =Total Fair Value of Land LESS Total Previous Fair Value
    - - As the Revaluation Decrease was smaller than the Reserve for that asset, the balance should have been first deducted from the reserve before being recorded as a loss in the income statement.