Valuation / Revaluation of assets
This query is : Resolved
09 March 2009
I would like to know the difference between valuation and revaluation.
Can we say Fixed assets are REVALUED every year and stock is VALUED every year?
If possible kindly quote any accounting standard which deals with this.
Thanks .
Anil
Anal.
I would like to know the difference between valuation and revaluation.
Can we say Fixed assets are REVALUED every year and stock is VALUED every year?
If possible kindly quote any accounting standard which deals with this.
Thanks .
Anil
Anal.
Manmohan ACA, CS
(Expert)
16 March 2009
monetary assets are 'value' such as stock, investment
non-monetary assets are 'revalued' such as machinery, building
refer AS-11
regards...........!
non-monetary assets are 'revalued' such as machinery, building
refer AS-11
regards...........!
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