REGULATIONS CONCERNING TERMINOLOGY, FORMS AND METHODS OF PREPARATION OF FINANCIAL STATEMENTS, ETC. Copyright Roderick Seeman

Article 42. Notations Concerning the Reevaluation of Fixed Assets

1. In those situations where there has been a reevaluation of tangible fixed assets, or intangible fixed assets there must be a notation to that effect, with the reasons therefor, the date when the said reevaluation was made, the book value prior to the said reevaluation of the assets, the amount of difference in the reevaluation and the method of accounting dispositions concerning the difference reevaluation.

2. In those situations where a tangible fixed asset or intangible fixed asset has been reevalued there must be a note to that effect with the date of the said reevaluation. However, that restriction does not apply concerning items for which 5 years have passed since the business year when the reevaluation was made, or for those cases where the value involved is not important.