Under IFRS Revaluation Surplus is part of

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Under IFRS, revaluation surplus is part of general reserves. Revaluation surplus arises when an asset is revalued above its carrying amount, and it is recognized as other comprehensive income. It cannot be recognized as profit or loss until the asset is disposed of. Therefore, it is presented as a separate component of equity on the statement of financial position. General reserves are used to record changes in equity that are not allocated to other specific equity accounts like retained earnings or share premium.

Under IFRS Revaluation Surplus Is Part of