accounting
This query is : Resolved
21 July 2016
on the basis of which accounting principle the fixed assets are shown in the balance sheet by deducting its depreciation.Is it going concern or historical cost
Amol S Joglekar
(Expert)
21 July 2016
The fixed assets are shown at historical cost
The depreciation is computed as per the EXPECTED life of the asset
The GOING concern principle is to be kept always in mind while doing so.
The depreciation is computed as per the EXPECTED life of the asset
The GOING concern principle is to be kept always in mind while doing so.
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Amol S Joglekar
(Expert)
21 July 2016
you are most welcome
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