06-19-2006, 05:19 PM
another question..
If an asset is acquired in exchange for another (non monetory/monetory&non monetary) asset/assets (whether similar or dissimilar in nature)16.24
The cost will be measured at the fair value (of asset received OR given up?) unless
a. the exchange transaction lacks commercial substance 16.25 or
b. the fair value of neither the asset received nor the asset given up is reliably measurable16.26
If the acquired item is not measured at fair value, its cost is measured at the carrying amount of the asset given up
cost will be measured at the fair value (of asset received OR given up?)and if its measured at F.v
of asset given up like carrying amount then what about gain/loss on disposal as which arises
in case of disposal against monetary assets
If an asset is acquired in exchange for another (non monetory/monetory&non monetary) asset/assets (whether similar or dissimilar in nature)16.24
The cost will be measured at the fair value (of asset received OR given up?) unless
a. the exchange transaction lacks commercial substance 16.25 or
b. the fair value of neither the asset received nor the asset given up is reliably measurable16.26
If the acquired item is not measured at fair value, its cost is measured at the carrying amount of the asset given up
cost will be measured at the fair value (of asset received OR given up?)and if its measured at F.v
of asset given up like carrying amount then what about gain/loss on disposal as which arises
in case of disposal against monetary assets
