banner_ad

Loss in the value of current assets

Others 222 views 2 replies
how loss in the value of current assets is treated which AS deals with it ?
Replies (2)

Loss in value of Current Asset - for which Current Asset 

For Inventory Ind AS - 2 applies

Ind AS - 28 Impairment of Asset deals with with impairment of assets, the carrying amount of the assets should not be more than the recoverable amount of the assets.

But doesn't covers Inventories (Covered in AS – 2)

Assets arising under Construction Contracts (Covered on AS – 7) 

Financial Assets including Investments (Covered in AS – 13) 

Deferred Tax Asset (Covered in AS -22 )

 

Great information. Out of curiosity, I've read Ias 2 indas 2 and as2 which part covers the loss?  Cause i don't want to read the whole thing again. 

Then impairment in AS is choosen unlike indas where carryingamount less accumulated depreciation less impairment losses. On the whole impairment is done annually done in Indas and upon indication in AS. 

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details