A piece of land is carried at 500,000. At the revaluation date (IAS 16 revaluation model), its fair value determined under IFRS 13 is 560,000. A decrease of 20,000 on the same land had been recognised in profit or loss at an earlier revaluation. What amount is recognised in other comprehensive income?
- Carrying amount of the land
- 500,000
- Fair value under IFRS 13
- 560,000
- Earlier decrease recognised in profit or loss
- 20,000