ias 10

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July 13, 2018 at 1:01 pm #462071

adarsh1997
Participant

1. Evidence of a permanent insinuation in the value of a long-term investment prior to the year end.

2. Sale of inventory after the reporting period for less than its carrying at the end.

– Could you explain what condition existed at the end of the reporting period that when these above end occur, we need the adjust?

Thanks in advance.

July 15, 2018 at 8:45 am #462320

P2-D2
Keymaster

Hi,

The condition is that the value of inventory was less at the reporting date and the value of the investment too. We just were not aware of it at the reporting date until the additional evidence came to light after the reporting date.

Thanks
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