The company i am auditing has purchased tally erp 9 software and microsoft office home and business 2013 along with computer. In which head to classify the same in fixed asset schedule.
Nikky Somani (Student CA IPC / IPCC) (28 Points)
31 July 2014The company i am auditing has purchased tally erp 9 software and microsoft office home and business 2013 along with computer. In which head to classify the same in fixed asset schedule.
CA. sanjeet Kumar Ojha
(Chartered Accountant)
(272 Points)
Replied 31 July 2014
Refer AS 26
if in invoice, Seperate Amount is charged for software then book seperately under the head of software. if in invoice, seperate amount is not charged for software, then capitalise with the head of computer.
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