Question related to: Long-lived assets

What is the difference between an Impairment Loss and Loss from a revaluation write-down?? Also, how are their effects on financial statements different? Thanks!

Impairment loss only can be reversed to the previous carrying value and the amount of the reversal shall be recognized as a gain in income statement, whereas loss from revaluation can be reversed to the extent greater than the previous amount and the amount over previous carrying amount shall be recognized in the “revaluation surplus” account under “other comprehension income” in equity.

An issue of discrepancy raised here is that which rule (impairment or revaluation) shall be followed if a company choose “revaluation model” for its LLAs under IFRS. There are some discussions on this forum but it seems that no one has a firm answer. Maybe it is an issue that IFRS does not consider this scenario at all.

I am very much confused by this too and clarifications from anyone will be very much appreciated.