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Ias 16 case study 4

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Hyderabad Chapter of ICWAI
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CASE STUDY 4 Gross carrying amount of plant and machinery is Rs.1000 lacs and accumulated depreciation is Rs.20 lacs. It is found that market value of the asset is Rs.1000 lacs in its second hand condition. What is the accounting treatment as per IAS 16?

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Ias 16 case study 4

  • 1. CASE STUDY 4 Gross carrying amount of plant and machinery is Rs.1000 lacs and accumulated depreciation is Rs.20 lacs. It is found that market value of the asset is Rs.1000 lacs in its second hand condition. What is the accounting treatment as per IAS 16?