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Vini Ltd has an asset, which was purchased on 01.04.2016 at 1,000 lakhs and estimated salvage value was 100 lakhs. The life of the asset is 5 years. The Company applies straight line method for depreciation. As at 31.03.2018 value in use is 400 lakhs and the net selling price is 375 lakhs. The amount of impairment loss for 2017

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The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%


Vini Ltd has an asset, which was purchased on 01.04.2016 at 1,000 lakhs and estimated salvage value was 100 lakhs. The life of the asset is 5 years. The Company applies straight line method for depreciation. As at 31.03.2018 value in use is 400 lakhs and the net selling price is 375 lakhs. The amount of impairment loss for 2017






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