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AS 10

When there is an exchange in the items of PPE with no commercial substance and fair value of both the assets is not ascertainable ,then carrying value of the asset given up shall be reduced by 'amount settle up paid' or 'amount received' ?


Kumar Sarthak

Kumar Sarthak

CA Inter

9K+

11-Feb-21 19:32

29

Answers (3)

If the acquired item(s) is/are not measured at fair value, its/their cost is measured at the carrying amount of the asset(s) given up.


Suraj Lakhotia

Suraj Lakhotia

Admin

13-Feb-21 12:08

If the acquired item(s) is/are not measured at fair value, its/their cost is measured at the carrying amount of the asset(s) given up.

Do we have to deduct/add anything from carrying amount of the asset given up?


Kumar Sarthak

Kumar Sarthak

CA Inter

9K+

13-Feb-21 12:42

Do we have to deduct/add anything from carrying amount of the asset given up?

No. Unless some other asset is received - say cash is received in part.


Suraj Lakhotia

Suraj Lakhotia

Admin

13-Feb-21 16:40