AS-6, AS-10, AS-28 & IFRS Problem
This query is : Resolved
18 December 2010
A company purchaesd Capital Assets from any supplier. Supplier raised bill including VAT. Company Capitalised whole amount of bill inculding VAT because company is unable to take VAT Credit.
Now My Questions are:-
1. Is this treatment is right as per AS-10.
2. Is this treatment is right as per company law, 2006.
3. On what amount company charge depreciation as per AS-6.
At the year end NRV of that asset is less than purchase cost( excluding VAT).
4. On how much amount company book impairment loss.
Please suggest the treatment on above problem as per IFRS.
Now My Questions are:-
1. Is this treatment is right as per AS-10.
2. Is this treatment is right as per company law, 2006.
3. On what amount company charge depreciation as per AS-6.
At the year end NRV of that asset is less than purchase cost( excluding VAT).
4. On how much amount company book impairment loss.
Please suggest the treatment on above problem as per IFRS.
19 December 2010
1. yes
2. yes
3. Book value
4. book value - NRV
2. yes
3. Book value
4. book value - NRV
28 December 2010
Dear Sir,
Please esplain me treatment as per IFRS point of view
Please esplain me treatment as per IFRS point of view
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