The revaluation of an asset that gives rise to equity and meets the definition of income is included in income under IFRS.

Name: The revaluation of an asset that gives rise to equity and meets the definition of income is included in income under IFRS.
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Under IFRS, revaluations of assets that result in increases in value are generally credited directly to equity under the revaluation surplus and do not affect the income statement.

The Revaluation of an Asset That Gives Rise to Equity