ASSETS NOT SHOWN IN B/S
This query is : Resolved
N.BALA RANGANATH
(Querist)
23 June 2009
Hello
Can anybody tell the assets that are not shown in the assets side of the balance sheet.
Thanks in Advance
Can anybody tell the assets that are not shown in the assets side of the balance sheet.
Thanks in Advance
23 June 2009
human resource assets
contingent assets
contingent assets
Sanjeev Jain
(Expert)
24 June 2009
I agree with what Mr. Gandhi said bec. as per AS-29 contingent Assets can not be recognized in the books of accounts.
There are many theories developed in the history of Accountancy and are being developed which stated that Human resource assets should be recoznised in the financial and provided the way to calculate the same but still there is some issue which restrict to recognsied the same in the books of accounts.
And last but not the least as per AS-26 Intangible items can not be recognized in the books of accounts and has to be written off immediately against the revenue reserve.
There are many theories developed in the history of Accountancy and are being developed which stated that Human resource assets should be recoznised in the financial and provided the way to calculate the same but still there is some issue which restrict to recognsied the same in the books of accounts.
And last but not the least as per AS-26 Intangible items can not be recognized in the books of accounts and has to be written off immediately against the revenue reserve.
CA.Nikhil Gupta
(Expert)
24 June 2009
Agree with Experts
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