As-28 applicability

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varun dev panwar

varun dev panwar (Querist)
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24 June 2015 Does AS-28 "Impairment of Assests" applicable on LAND ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 June 2015 AS-28 will apply on all assets except

(a) inventories (see AS 2, Valuation of Inventories)
(b) assets arising from construction contracts (see AS 7 Construction Contracts)

(c)financial assets, including investments that are included in the scope of AS 13, Accounting for Investments; and

(d) deferred tax assets (see AS 22, Accounting for Taxes on Income).

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