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as 10
Accountancy
sir in immediate previous class u said first fv of outgoing asset second fv of incoming asset if both fv is not there then book value or carry amount of outgoing asset should be considered but here in this video u choose fv of incoming asset when we have both old and new assets fv please clear this doubt and thanks in advance for clearing the doubt sir. Video Details ------------- P1 - Accounting Standards - CA Inter AS 10 #5. Cost of Assets - Scenarios II
Answers (6)
how can we say it is more evident sir because in that question sir said fv of incoming is 12 fv of outgoing is 10 but here incoming is more reliable so we take 12 is it because the value of incoming is more than outgoing because the question is just what i gave there is no info or anything just the 2 fv and we need to select one so how did he selected fv of incoming over outgoing.
Thread Starter
N.V Karthikeyanhow can we say it is more evident sir because in that question sir said fv of incoming is 12 fv of outgoing is 10 but here incoming is more reliable so we take 12 is it because the value of incoming is more than outgoing because the question is just what i gave there is no info or anything just the 2 fv and we need to select one so how did he selected fv of incoming over outgoing.
Question will mention which is more evident. So accordingly we would take. It is not based on high or low.
ok sir so we cant determine whether it is evident or not but if the question is silent then we go in this order If FV of Outgoing is available - Consider that If FV of outgoing is not available - Consider FV of incoming. if both not available then book value of outgoing