US Gaap. Little confused by something. Long lived asset and with US Gaap there is no reversals. Say on the Balance sheet PPE is valued at 300 and the market value is at 350.
I understand that the Fair value does not increase but wouldnt there be an unrealized gain or loss somewhere?
Eg. If it was an AFS financial asset with the same numbers and GAAP. I would keep the same FV but increase unrealized gains in OCI by 50 million.
Question came up on a schweser and confused me. Can somebody elaborate a little? Or is that just the case. Long lived assets would have no change and AFS what is mentioned is how it happens?