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Hi. We know that gain in disposal of asset is the difference between net proceeds (sales value-costs incured for disposal) and accumulated depreciation and accum.impairment amount. now i ask if we sell the asset in the middle of the year , do we revalue it and calculate impairment loss or gain before selling? Does IFRS claim anything about it?
NO! That is NOT the way that gain (loss) on disposal is calculated!
Read again what you have written!
No, IFRS has nothing about depreciating until sale date
It actually makes no difference at all to the statement of profit or loss – watch John Moffat’s F3 lectures and you’ll be enlightened!
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