Asset recognisation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2012
Iam currently doing an audit , where they have trucks of which WDV has become nil , but still in use. IS it necessary to reflect 5% of residual value in balance sheet and carry forward even if it has become nil
04 August 2012
Assest should be shown in FS as long as company using the same.
It should shown @ nominal value say Rs.10 or Rs.100/- in financial statements.
It should shown @ nominal value say Rs.10 or Rs.100/- in financial statements.
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