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Fixed Asset Revaluation (Downward/Loss)
Recording a decrease in land/building value below its original cost (IFRS).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Revaluation Loss (Income Statement) | Expense (+) | 10,000.00 | - |
| Land / Building | Asset (-) | - | 10,000.00 |
💡 Accountant's Note
Unlike revaluation gains (which go to Equity/OCI), a loss that drops the asset below its historical cost must be recorded on the Income Statement immediately.
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