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22 - Depreciation on Accounts for Upward Revaluation

22 - Depreciation on Accounts for Upward Revaluation

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It is necessary to have the accounts from the fixed asset register to post this type of entry:

  • to post to the debit side: Upward revaluation - Difference (e.g. 9510D)
  • to post to the credit side: Upward revalauation - Credit (e.g. 0351K)

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  1. By the first depreciation of upward revaluation values of the type 4- Upward revaluation on upward revaluation accounts are depreciated.
  2. By any additional depreciation of upward revaluation it is depreciated together with its value adjustment of the last existing record of the type 22- Depreciation on upward revaluation accounts, larger for a possible additional upward revaluation of the type 4- Upward revaluation on upward revaluation accounts and less the possible reversal of upward revaluation of the type 7 - Reversal of upward revaluation.

When upward revaluation of fixed asset is posted (see 4 - Upward revaluation on upward revaluation accounts) we have to make sure that it is also depreciated with the same rate as the purchase value of asset. 

Typical for depreciation of upward revaluation is that it does not make any depreciation cost (accounts of group 43), yet it decreases the special revaluated capital adjustment incurred from upward revaluation (e.g. 951).

 

For example see:

 

 

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