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This client screen is used for Limited Companies, Charities and Academies.
It can be found in:
Edit | Data Screens | Notes to Financial Statements | Balance Sheet Items | Fixed Asset Investments | Revaluation | Analysis of "Cost or Valuation"
The figures entered on this screen are used in the standard revaluation note. Please note that figures must be entered for all groups that have postings, not just the group which includes the revalued asset.
This screen determines how the value at the year end is comprised.
Checks will be performed by IRIS to ensure that the total shown here agrees to the total for that account in the trial balance.
| Year of Revaluation | Accounts 542,
548, 549, 550, 556, 557, 561
(Charities and Academies only use 542, 556, 557, 561 |
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| Valuation in | Enter the year of revaluation. Facility is made for up to 10 valuations.
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Enter the amount by which fixed
asset investments were revalued in the year. Enter a + sign if the intangible fixed assets have increased in value (or leave the field blank). Enter a - sign if the fixed asset investments have decreased in value. |
| Cost |
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The historical cost of the fixed asset investments. |
| Total at end of year |
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The total of the column above is calculated by IRIS and displayed in the grey box. |
The table below shows the relationship between accounts 542, 548, 549, 550, 556, 557, 561, asset descriptions and the account numbers used to calculate the balance at the year end in the Notes to the Financial Statement.
| Account | Asset Description | Sub account | Debit or Credit Expected |
| 542 | Shares in group undertakings |
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| 548 | Interest in associated undertakings |
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| 549 | Interest in joint venture |
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| 550 | Interest in other participating interests |
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| 556 | Listed investments | ||
| 557 | Unlisted investments |
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| 561 | Own shares (Charities and Academies - Cash and Settlements pending) |
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| Sub accounts used for the accounts listed above | |||
Cost/Valuation b/f |
1 | Debit | |
| Additions | 2 | Debit | |
| Disposals | 3 | Credit | |
| Revaluations | 5 | Debit | |
| Impairments | 6 | Credit | |
| Reversal of impairments | 7 | Debit | |
| Exchange differences | 8 | Either | |
| Reclassification/transfer | 10 | Either |
Where the figure for Total at year end in the Analysis of 'Cost or Valuation' screen does not match the postings made to accounts 542, 548, 549, 550, 556, 557, 561 (as above) the following error message appears:
** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INTEREST IN JOINT VENTURE
'COST' ACCOUNT TOTAL
Posting made to account 542, 548, 549, 550, 556, 557, 561/1-10 as detailed above are listed XXX
________
XXX
CLIENT SCREEN TOTAL = XXX
Use this option to view or print any report without leaving this screen.
IRIS will return to the Revaluation analysis - investments screen when you exit the report option.
To view the notes only enter NOT, NOI, NOC in the Report/Document field.
This screen will be displayed automatically during the auto-pilot routine.