?WHAT DO YOU MEAN BY ACCUMULATED DEPRECIATION AND REVALUATION OF FIXED ASSETS
ACCUMULATED DEPRECIATION:
Accumulated Depreciation is the depreciation that has taken place on a particular asset up to the present time. This is the amount that has been charged to profit and loss account up till the present year.


REVALUATION OF FIXED ASSETS:

Fixed assets are purchased to be used for longer period. In the subsequent years, the value of asset could be higher or lower than its present book value, due to inflationary condition of the economy. Assets are valued at Historical Cost in the books of accounts.
Historical Cost is the original cost of the asset at which it was purchased plus additional costs incurred on the asset. Sometimes, the management of the business, if it thinks fit, revalues the asset to present it at current market value. Once the asset is revalued to its market value, then its value has to be constantly monitored to reflect the changes in the market value.
If an asset is revalued at higher cost than its original cost, the excess amount will be treated as profit on revaluation of fixed assets and it is credited to Revaluation Reserve Account.
On the other hand, if an asset is revalued at lower cost than its original cost, the balance amount will be treated as loss on revaluation of fixed assets and it is shown in the profit & loss account of that year in which asset was revalued.