Forums
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
Answers (3)
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?