Kona uses IFRS and has property and equipment on an historical cost basis of $2,500,000. At the end of the year, Kona appraises its property and equipment and determines it had a revaluation increase of $200,000. How should Kona record this revaluation under IFRS?

Answer rating: 100% (QA)

Under the International Financial Reporting Standards IFRS Kona will record the revaluation increase ... View the full answer