Hi, for valuation of PPE completed after a company's year end, I understand that we only adjust if the valuation was completed within 1 year. However, I would like to confirm the following:
1) Must the valuation be completed within a year of the valuation OR within a year after the company's year end?
2) Does this rule only apply to PPE? Will valuation of say, provision be following this rule as well?
Thank you.
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Valuation completed after year end
7y ago#1Hi,
This is only relevant on consolidation and valuing the net assets at the date of acquisition. If the values that we had originally estimated change within a year of the acquisition then we can adjust the net assets at acquisition.
This applies to all assets/liabilities and not just PPE.
Thanks
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