Note subsequent to revaluation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2017 Is there any requirement of writing a note in notes to financial statements with respect to Revaluation of assets in the years subsequent to revaluation ? If Yes, what is the note to be written ?

Amol S Joglekar

Amol S Joglekar (Expert)
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24 June 2017 in the year of revaluation, the note should be given.
In the year of audit, the following assets were revalued vide board resolution number xxxxxxx dated xxxxxxx. The impact of the same on the profit of the company is xxxxxxxxx