The value, in Birr, of assets (land and buildings) under the balance sheet of the Chemical Industry Corporation (CIC) for the fiscal year 2023/24. The problem is that an audit found that much of its land in Addis Abeba was taken by the government, and some of its buildings were demolished. Despite losing control of these assets and no longer receiving economic benefits, the carrying amounts remain unchanged, while accounting standards require an asset to be derecognised upon disposal or destruction.
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