Discussion On IFRS

Page no : 5

Nidhi Agarwal (R & D) (23 Points)
Replied 20 May 2010

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

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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