- This topic has 1 reply, 2 voices, and was last updated 1 year ago by .
- You must be logged in to reply to this topic.
Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
“IAS 16 Property, Plant and Equipment defines residual value as the estimated amount which an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already at the age and in the condition expected at the end of its useful life.”
sir why does the asset really needs to be at the end of its useful life for us to calculate its residual value? isnt residual value a forecast of the expected value of the asset at the end of its useful life?
I have no idea what this question means.
RV is what you expect to sell the asset for at the end of its life. It will be given in the question.