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An impairment loss on a non-revalued asset is recognised in profit or loss. However, an impairment loss on a revalued asset is recognised in other comprehensive income to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that same asset. Such an impairment loss on a revalued asset reduces the revaluation surplus for that asset (AS 36).
Consider the following statement:
I. Government will launch a new sub-scheme of PM Matsya Sampada Yojana with targeted investment of 5,000 cr...
What is the limit on the amount of money for trade related transactions under RDA?
Which of the following financial centers provide international financial services mainly to their national economies?
For Domestic Scheduled Banks, what is the minimum target for Priority sector lending
Who shall constitute a Performance Review Committee under the IFSCA Act?
RBI introduced the Scale based regulatory framework for NBFCs. As per the framework, NBFCs – Middle Layer and NBFCs - Upper Layer with _____ and more ...
India is a nation with one of the highest populations. India’s National Population Policy (NPP) states its immediate objective as addressing the unmet...
What would be the profit as per cash basis of accounting based on the following information:
Revenues on account = Rs.50000
Cash Sales =...
In the above product mix, how many t-shirts should be sold by Deepak Ltd to break even?
Ensuring hassle-free credit availability at a cheaper rate to farmers has been the top priority of the Government of India. Accordingly, the Kisan Credi...