LearningCat: Accounting Practices

Understanding the Recording of Revaluation of Assets in Books of Accounts

Let’s imagine that you’re the CFO of a textile company in Mumbai. You have noticed significant fluctuations in the market value of your factory’s land over the last few years. How do you ensure your financial statements accurately reflect these changes? That’s when the asset revaluation comes into play. What is Asset Revaluation? It can […]