carried amount?

lisnic
lisnic Registered Posts: 141 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
can i just confirm the carried amount is the amount used in the financial statements for that period?

thanks

Comments

  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
    Yes, it's the value in the statement of financial position, hence:

    Assets cannot be carried in the position statement at anymore than their recoverable amount.

    Regards
    Steve

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