09-27-2003, 01:49 AM
Raza bahi u have pointed the very right situations which might arise.
Actually i asked this question because in a circular issued by ICAP, ICAP mentioned the major discrepencies in accounts of listed companies and one of the discerepency mentioned is that the leased assets have been revalued.
So thats where i think that there is some restriction on revaluation of leased assets.
U can access the circular at ICAP website
www.icap.org.pk
Tecnical Services / Circulars / Circulars issued in 2003 / Circular No. 08/2003 dated July 25, 2003. The enclosure of this circular contains detail of discrepencies found in accounts of listed companies.
Actually i asked this question because in a circular issued by ICAP, ICAP mentioned the major discrepencies in accounts of listed companies and one of the discerepency mentioned is that the leased assets have been revalued.
So thats where i think that there is some restriction on revaluation of leased assets.
U can access the circular at ICAP website
www.icap.org.pk
Tecnical Services / Circulars / Circulars issued in 2003 / Circular No. 08/2003 dated July 25, 2003. The enclosure of this circular contains detail of discrepencies found in accounts of listed companies.
