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As 2

Financial Reporting

When we say this item is scrap sir . Is there any definition for scrap like inventory we have Video Details Ind AS - CA Final Ind AS 2 Inventories 20. Illustration 8 & 9: Inventory criteria & Discount


HEMAVATHYSUBRAMANI SUBRAMANI

HEMAVATHYSUBRAMANI SUBRAMANI

CA Final

2K+

22-Feb-24 21:28

78

Answers (3)

No specific definition. Think of scrap as something which is not useful.


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

23-Feb-24 09:04

Sir I'm not getting related to carrying amount . Carrying value is wdv only know. Wdv will be cost r nrv which ever is lower right sir


Thread Starter

HEMAVATHYSUBRAMANI SUBRAMANI

HEMAVATHYSUBRAMANI SUBRAMANI

CA Final

2K+

23-Feb-24 18:54

Carrying amount means the amount at which it is shown in the books or closing balance.


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

23-Feb-24 18:58

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