4 - Upward Revaluation on Upward Revaluation Accounts (Special Revaluation)

To post this type of entry you shall need the following accounts from the fixed asset register:

• to post to the debit side: Upward revaluation - Debit (e.g. 0401D)
• to post to the credit side: 
  • Upward revaluation - Credit (e.g. 0501K)
  • Upward revaluation - Difference  (e.g. 952K)

	To establish the appropriate carrying value and with this the corresponding difference from the new value it is MANDATORY that you prior to the entry of upward revaluation calculate depreciation to the date of upward revaluation.
	If downward revaluation has been used with fixed asset prior to the upward revaluation (see type 5 - Downward revaluation on downward revaluation accounts), you have to first reverse the downward revaluation (see type 8 - Reversal of downward revaluation).

Upward revaluation is allowed by SRS 2002 yet this procedure is not obligatory. 

Depreciation of such upward revaluation (see 22 - Depreciation on upward revaluation accounts) means gradual decrease of the revaluated capital adjustment incurred here (e.g, account 952).

Example:

• Upward revaluation on upward revaluation account