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In balance sheet fixed assets are shown at:?

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Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/20
Tranquilino Jr Rivera
by Tranquilino Jr Rivera , General Accountant , Enany Group of Companies

Option D is the answer. Fixed assets are shown in the balance sheet at Written Down Value. 

Deleted user
by Deleted user

There is not enough information to give a specific answer but here is some general information. It is even more complicated than what follows below It depends on whether the company operates under GAAP or IFRS and whether the asset is impaired. If the asset is not impaired and the company operates under GAAP, then the cost model must be used.(Cost of a asset minus accumulated depreciated). If the company operates under IFRS, then it can be either Cost minus accumulated depreciation or fair value. If the asset is impaired, then the asset must be written down regardless of which guidelines the company uses.

Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option D is the right answer.

lakshminarasimham mallareddi
by lakshminarasimham mallareddi , Manager Finance & Accounts , M/s. Vandana Global Limited, Raipur, Chhattisgarh

Answer is D) Written Down Value (WDV)  of Fixed Assets are shown at Balance Sheet

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

A)  .>>>>>>>>>>>>>>>Cost price

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

Correct answer is Fair value

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