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Hi sir,
Just a quick clarification,Asset Held for sales is carried at the lower of Carrying amount and fair value less cost of sale.
i know that when Fv less cost of sales is lower there is impairment However,
Say that the amount lower of these two is the Carrying amount. Is there a gain through P/L?I’m not sure that I understand!
If the asset is held at carrying value because it’s lower than fair value, then …. it’s held at carrying value! No gain, no impairment
Does that answer this question that I don’t understand?
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