is revaluation of fixed assets mandatory for every entity, when revaluaion is required.
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Revaluation of fixed assets
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| Originally posted by : chaitanya | ||
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is revaluation of fixed assets mandatory for every entity, when revaluaion is required. |
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No, revaluation of fixed assets is not mandatory for every entity. it is only required to be done at the time of restructuring of entity and in some other cases......
Revaluation is optional. but if the entity opts to revaluation then AS-10 & guidance note on Revaluation shall be followed.
revaluation is done at the time of restructuring, amalgamation, demerger, merger and also at the of calculating goodwill. at the time of revaluatio of assets, rules of AS-10 will be applied with the provisions of guidance note on revaluation, revaluation reserve is created with the amount of revalued assets,
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