Ias 16 case study 4

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Hyderabad Chapter of ICWAI

Tecnologia Negócios

CASE STUDY 4

Gross carrying amount of plant and machinery
is Rs.1000 lacs and accumulated depreciation
is Rs.20 lacs. It is found that market value of
the asset is Rs.1000 lacs in its second hand
condition.

What is the accounting treatment as per IAS
16?

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Ias 16 case study 4

1. CASE STUDY 4 Gross carrying amount of plant and machinery is Rs.1000 lacs and accumulated depreciation is Rs.20 lacs. It is found that market value of the asset is Rs.1000 lacs in its second hand condition. What is the accounting treatment as per IAS 16?