is revaluation of fixed assets mandatory for every entity, when revaluaion is required.
Revaluation of fixed assets
CA Krishna Chaitanya M (Chartered Accountant) (463 Points)
12 April 2013
3 Replies
Krunal Jani
(Article Assistant)
(63 Points)
Replied 15 April 2013
| Originally posted by : chaitanya | ||
 |
is revaluation of fixed assets mandatory for every entity, when revaluaion is required. |
 |
No, revaluation of fixed assets is not mandatory for every entity. it is only required to be done at the time of restructuring of entity and in some other cases......
santhosh kumar
(article student)
(84 Points)
Replied 20 July 2013
Revaluation is optional. but if the entity opts to revaluation then AS-10 & guidance note on Revaluation shall be followed.
CA Nitin K. Varshney
(FCA DISA CCA Peer Reviewer (ICAI))
(616 Points)
Replied 20 July 2013
revaluation is done at the time of restructuring, amalgamation, demerger, merger and also at the of calculating goodwill. at the time of revaluatio of assets, rules of AS-10 will be applied with the provisions of guidance note on revaluation, revaluation reserve is created with the amount of revalued assets,
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