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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

CA Final

★ 2K+

22-Feb-24 21:28

109

Answers (3)

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

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

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

Admin

23-Feb-24 18:58

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