What is the best way to reduce the fixed asset acquisition cost (because of a Bill Credit received after the fixed asset is created) and increase its cost due to additional costs that were incurred after creating the fixed asset? Is it through Asset Revaluation or creating a Compound Asset? Or is there any other better way?

Write down asset revaluation is the only option.

Got it. If it's additional costs, then I'd do a write-up revaluation then?

Well addition sometimes people create new asset and link it to parent asset.

Thanks.