Accounting Treatment on AS-10
This query is : Resolved
16 November 2008
Sir,
Kindly clarify my doubt
Any Expenditure incurred in the nature of fixed asset shoud be capitalised, but what should be the minimum value of the expenditure to capitalise.
is there any circular or is there any note in the as-10.please confirm me
Thanks and
regards
Bandari.
Kindly clarify my doubt
Any Expenditure incurred in the nature of fixed asset shoud be capitalised, but what should be the minimum value of the expenditure to capitalise.
is there any circular or is there any note in the as-10.please confirm me
Thanks and
regards
Bandari.
16 November 2008
Accounting standards are intended to apply to items which are material. But,as you know,materiality differs from case to case and hence a bench mark cannot be prescribed. Ref:-clause 3 of annexure to notification GSR 739E dt 07/12/2006 of Ministry of Company Affairs.
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