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Saturday, April 24, 2010

Revalued amount of an asset

Revalued amount of an asset is the fair value of an asset at the date of a revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Revalued amount of an asset is specifically discussed in IAS 16 Property, Plant and Equipment.

Source: Glossary of Terms of IFRSs as at 31 December 2008.