Fixed Assets Revaluation

[Mohd200]

Good Day Everyone

The Main Issue: [ Fixed Assets Appreciation and Impairment ]

Case Scenario: As per the IFRS, we have to make revaluation to some of the Fixed Assets. Hence, how to handle it in the ERPNext? e.g: Building worth 2,000,000$ with 10% Depreciation per year. By the end of the year, we got advised by the external auditor that there is an impairment of 300,000$ on the Building (Asset). Now, how to record the Impairment entry and how to calculate the new Asset Value (1,700,000$) After Depreciation in the System?

2nd Case Scenario: Building worth 2,000,000$ with 10% Depreciation per year. By the end of the year, we got advised by the external auditor that there is an Appreciation of 300,000$ on the Building (Asset). Now, how to record the Appreciation entry and how to calculate the new Asset Value (2,300,000$) After Depreciation in the System?

I do hope that ERPNext Foundation takes this issue seriously and solve it ASAP. And if I have missed a solution to this issue, I would appreciate any help or Advise.

Thank You

[Fredoluka]

This is very important. IFRS revaluation and impairment of PPE are necessary

[kennethsequeira]

@Mohd200 is this it?

https://youtu.be/k4uQlxYCJ5s?list=PL3lFfCEoMxvxfcQ526x0AME-yyWMo3JKT