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Accounting entries

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(Querist)
08 October 2012 If a govt. give a Grant to a company, later company purchase a Fixed Asset from that Grant, than what entries are passed by company?
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CA Pooja Agarwal

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CA Pooja Agarwal (Expert)
08 October 2012 it depends on whether its a depraciable asset or a non deoreciable asset..you need to refer AS 12 for this ..Go thru the following link


http://indianaccounting.blogspot.in/2012/05/as-12-accounting-for-government-grants.html
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SUMIT R JOSHI

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SUMIT R JOSHI (Querist)
08 October 2012 Dear Expert, Pooja Agrawal
Just tell me all entries in both the cases, whether depreciable asset or not?




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