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Which AS deals with asset held for sale?

Yug Bhattad

CA Final

★ 63K+

29-Sep-22 15:46

376

Answers (7)

As 2 inventory

Kiran Vijay

CA Final

★ 4K+

29-Sep-22 15:47

If asset is held for sale in the ordinary course of business then AS2 deals with it If asset is not intended for sale in the ordinary course but used for office purpose then it shall be shown under AS10 PPE

Thanusha Lakshmi

CA Final

★ 3K+

29-Sep-22 15:50

It depends of the kind of the asset. if it is a good that the firm deals in ordinary course(inventory) AS2 will apply. If it is a asset which is of capital nature like furniture or machine thenn AS10 will apply.

Aswin Chandar

CA Final

★ 40K+

29-Sep-22 16:09

Respective standards deal with these. The context of the question asked to you is quite different! :D

CA Suraj Lakhotia

Admin

29-Sep-22 17:44

CA Suraj Lakhotia Admin

Respective standards deal with these. The context of the question asked to you is quite different! :D

Oh ok sirð???. But sir, can you please explain. Does it has something to do with AS24?

Thread Starter

Yug Bhattad

CA Final

★ 63K+

29-Sep-22 18:12

AS 24 is discontinued operations.

CA Suraj Lakhotia

Admin

29-Sep-22 19:32

CA Suraj Lakhotia Admin

AS 24 is discontinued operations.

Yes sir. Maybe this is too early to jump into such complex things ð???.

Thread Starter

Yug Bhattad

CA Final

★ 63K+

29-Sep-22 20:06