hi,
We are currently looking to Microsoft to update Great Plains to conform with the new requirements of IAS 16 around the holding of information on Fixed Asset Revaluations - see below
Has anyone come up with a solution to this. We are making adjustment manually through GL after a revalued asset has activity against it, and holding the original Cost in an unused field. We also have an alert that notifies that the asset has been revalued. Not exactly the best solution when responding to a prospect or customer. Any help would be appreciated to streamline this or please log as an enhancement request with microsoft
IAS 16.77
If items of property, plant and equipment are stated at revalued amounts, the following shall be disclosed:
(a) the effective date of the revaluation;
(e) for each revalued of property, plant and equipment, the carrying amount that would have been recognised had the assets been carried under the costmodel; and
(f) the revaluation surplus, indicating the change for the period and any restrictions on the distribution of the balance to shareholders
