alleryStart learning →Which Indian accounting standard deals with discontinuing operations?
AAS 17
BAS 28
CAS 25
DAS 24
Answer & Solution
Correct answer: D. AS 24
AS 24 sets out how information on discontinuing operations is reported, while AS 17 covers segments, AS 25 interim reports and AS 28 impairment.
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Assets of Rs. 85 lakhs and liabilities of Rs. 15 lakhs give net assets ofAssets carried at Rs. 105 lakhs have a recoverable amount of Rs. 85 lakhs. The impairment The aim of AS 24 is to separate information on discontinuing operations fromAS 24 cash flow requirements apply only when the enterpriseInterim report disclosures on discontinuing operations followComparative figures after the initial disclosure event must beDisclosures under AS 24 are presented separately forThe effect of abandoning a plan includes reversal of any prior