Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Describe the value at which fixed assets are presented in financial statements.

Accounting Fixed Assets
user-image
Question added by Salman Yousaf , Manager Accounts , KTC International LLC
Date Posted: 2013/11/25
Upvote (0) Views (1) Followers (1) Answers (4) Report Question
Write an Answer
Register now or log in to answer.
Asad zaman
by Asad zaman , Audit/Finance , Rafaqat Baber and co

Cost or revalued amonut.

Mujtaba Hussain
by Mujtaba Hussain , Accounts officer , Miraj Entertaiments

fixed assets are presented on the book value of an asset after deducting depreciation if any

Basem Eljammal
by Basem Eljammal , Senior Accountant , ISAM KABBANI & PARTNERS GROUP FOR CONSTRUCTION AND MAINTENANCE CO. LTD.

It recorded on books by Historical value , But represented in balance sheet subtracted from the related accumulated depreciation

mukkur srinivasan varadhan
by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

Historical cost .Cost of bringing the assets to the present state and conditions.

Write Your Answer
More Questions Like This