Reclassification of Revaluation Surplus to Accumulated Surplus
National Housing Authority · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceAn appraisal gain on investment property was reversed because the company uses the cost model.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Revaluation Surplus amounting to P1.0 billion was reclassified to Accumulated surplus."