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Im getting confused on Working 2 – Net Assets of a subsidiary.
When we have fair value adjustments eg 1. land had a fair value of $2 000 000 below its carrying amount OR 2. fair value of $2,000 000 above its carrying amount.
How come on 1. we deduct the $2m and on 2. we add the $2m? I dont understand why we treat the adjustment like that.
thanks
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