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Illustration 6

Financial Reporting

We have arrived the net carrying amount as 10 lakhs after deduction of impairment loss My doubt is Why are we not providing depreciation for the year as we have all the date related to residual value and remaining useful life? Video Details Ind AS - CA Final Ind AS 40 Investment Property 13. Illustrations 6 & 7

Vijay Ramesh

CA Final

★ 765

06-May-24 20:09

Answers (3)

First we provide depreciation and then calculate impairment.

CA Suraj Lakhotia

Admin

07-May-24 14:01

CA Suraj Lakhotia Admin

First we provide depreciation and then calculate impairment.

So Can we assume that carrying amount of 15 lakhs is after deduction of depreciation. So After that we are reducing 5 lakhs of impairment losses , Right?

Thread Starter

Vijay Ramesh

CA Final

★ 765

07-May-24 16:43

Thread Starter

Vijay Ramesh

So Can we assume that carrying amount of 15 lakhs is after deduction of depreciation. So After that we are reducing 5 lakhs of impairment losses , Right?

Yes.

CA Suraj Lakhotia

Admin

09-May-24 16:18