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Valuation of Assets and liabilities

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Valuation of Assets and liabilities AS–14 requires valuation at carrying value in the case of pooling method. In the case of purchase method either carrying value or fair value may be used. Contingent liabilities are not fair valued. Under AS–21, AS–23, and AS–28, goodwill is determined based on book values rather than fair values. Ind AS 103 requires the acquired identifiable assets, liabilities and non-controlling interest to be recognised at fair value under acquisition method.Even contingent liabilities are fair valued.
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Gujarat Secondary and Higher Secondary Education Board

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