Hello Every one,
I am doing Valuation of security but i want to do Valuation according to IFRS for that Do i need to change any costimazation ?
Problem is as follows
I have purchased 5 shares with price unit 10 total amount is 50
Journal Enrty Shares 50 $ / Cash Account 50 $ date 9/4/2010
Then I have done Valuation with Unit price 18 Tatal Amount in 90
Journal Enrty Shares 40 $ / valuation profit 40 $ date 12/4/2010
Want to sale the whole shares with unit price 15 total amount is 75
*Journal Enrty
Cash Account 75 $ / Shares 75 $ date 13/4/2010
sales loss 15 $ / Shares 15$
Journal Entry got generated with Valuation Amaount as Base
But its not accepatable by IFRS
IFRS Wants as follows
Last Journal Enrty should get generate as Purchase value base
*Journal Enrty
Cash Account 75 $ / Shares 75 $ date 13/4/2010
Shares 25$ / Sales Profit 25$
Is there is costamization to do this ? Is it possible to do like wise ?
Thank you in advance
Deepak Pawar