Every now and then it happens that you\u2019re going to get rid off one or some of your equipment or machinery. It could be even buildings or rooms that you own which are part of your property. Regardless of what it is exactly, matter of fact is that there comes a time you\u2019re going to sell some of those items.\u00a0<\/p>\n
As a normal course of every selling process, you get the idea first. You\u2019re thinking of selling the item and as a part of the thought you\u2019re also calculating a price you\u2019d ask for it most probably. There could be a price you\u2019d wish to get, but there\u2019s most probably a reasonable price you guess you\u2019d get. It goes without saying that the reasonable price you\u2019d probably get is the price to be recognized as the value of the asset on the balance sheet. This price is to be used when you\u2019ve made up your mind to sell the asset, you\u2019re already looking for buyers and you\u2019ve as a result of it, recognized the asset as an asset held for sale under current assets. The condition here is that it\u2019s probable you\u2019ll sell the asset within the next 12 months. If neither of the above has happened yet and you\u2019re at best just in the first base of thinking about selling it, it\u2019s still part of your property, plant and equipment and is recognized in its carrying value.<\/p>\n","protected":false},"excerpt":{"rendered":"
Every now and then it happens that you\u2019re going to get rid off one or some of your equipment or machinery. It could be even buildings or rooms that you own which are part of your property. Regardless of what it is exactly, matter of fact is that there comes a time you\u2019re going to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,58],"tags":[],"class_list":["post-3855","post","type-post","status-publish","format-standard","hentry","category-1-basic-accounting","category-1-5-6-assets-held-for-sale"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=3855"}],"version-history":[{"count":3,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3855\/revisions"}],"predecessor-version":[{"id":3858,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3855\/revisions\/3858"}],"wp:attachment":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=3855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=3855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=3855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}