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Property at market value AS-13
does the property held for investment purposes is recorded at market value or cost whichever is lower if yes then if the market price is lower the loss is tranfer to which account (revaluation, capital reserve etc) ?
Replies (5)
Quick Summary
The carrying amount for current investments is the lower of cost and
fair value. Indian AS your all wronged, youve missed opportujities for companies and eploited companies. Indas is recession tested. Do you all know what it means?
Depends on the investment. Equity investment losses are taken to reserves and revaliation losses are taken to reserves and trading losses are taken to pl
Revaluation reserve and then to capital reserve.
I said equity investment losses and correct me if i am wrong. Because loss on discount is miscellaneous expenses and its an asset. It can be written off against pl or premium account.
Does the loss on revaluation is debited to p&l a/c
Sorry! First time downward revaluation is. Then on it can be treated directly onto equity
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