This Query has 7 replies
Hi....
I have doubt that as per Transitional provisions given in the Schedule II of the companies act, 2013, if remaining life of the asset is nil then carrying amount of the asset as on balance sheet date should be recognised in opening balance of retained earnings or may be charged to profit & loss account.
Whether this treatment should be done even though asset is still existing on balance sheet date??
Thanks in advance....
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Depreciation as per schedule ii of companies act,2013