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Rupesh

Rupesh (Querist)
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21 June 2013 What is the nature of revaluation account?
Whether it is real, personal or nominal...?????
plzzz answer me

P B Srivathsan

P B Srivathsan (Expert)
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21 June 2013 Revaluation A/c represent the gain or loss on revaluation. If you have positive revaluation you credit the account and negative / loss revaluation, you debit the account. As a conservative measure, profit is not taken to P/L as it is not realised and may get distributed inadvertently. The loss on the other hand is charged off to P/L.

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