Hello Sir,
cant we take the fair value of a similar asset?
for IFRS 5
Non-current assets held for sale or discontinued operations
Sonam
Discussion On IFRS
Page no : 5
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 20 May 2010
Sonam
I am not getting your question Properly. Please can you elaborate,
So i will try to explain you properly
Amit
gokul
(Accountant)
(126 Points)
Replied 21 May 2010
Amit Sir
Is it ok to continue the historical cost approach for non current assets and take shelter under the approach that the cost of valuation of assets is way beyond than the benefits. Where exactly should we draw the line, whether to conduct fair valuation or not.
Secondly if an entity is to ascertain the fair value of its non current assets, can you please share some thoughts on how to go about it. Whether the valuation has to be done by an independent valuer. Whether is it practically possibe for the entity which does not have much of expertise, to fair value its assets without the help of external valuers.
Thank you
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