saradhi (article assistant) (101 Points)
16 February 2013| The company made an error in depreciation calculation during earlier financial periods. | |
| Due to this the company's net block is undervalued by Rs 1 cr. | |
| How could we rectify this error and disclose in financials | |
| Option A | Considering this as prior period item in the financials |
| Option B | Revaluation of asset and bringing it to current market value. |
aman singh
(Student CA Final )
(27 Points)
Replied 16 February 2013
| Originally posted by : saradhi | ||
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market value & create a revaluation reserve of the same amount at asset has been increased
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CAclubindia
