11-02-2003, 10:48 PM
Hi Pervaz rathat
AOA Pervez
we agree principl and disclouse and I also agree that NRV is on balance sheet date.... it is generally assumed and understood that NRV term is always used at the balance sheet date.... so you compare the NRV (at balance sheet date) with the historic cost and take the lower to F/S. I agree.
For Raza
You asked for a reference, are you ok on that or you still need the reference.
Thanks
zubair
AOA Pervez
we agree principl and disclouse and I also agree that NRV is on balance sheet date.... it is generally assumed and understood that NRV term is always used at the balance sheet date.... so you compare the NRV (at balance sheet date) with the historic cost and take the lower to F/S. I agree.
For Raza
You asked for a reference, are you ok on that or you still need the reference.
Thanks
zubair