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
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Valuation / Revaluation of assets
Replies (1)
the revaluation of fixed asset is covered by AS 10 and the imapirment of asset is covered by the AS 28. the valuation of stock is covered by AS2.
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