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Fixed Assets - Accounting

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sandesh (Querist)
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14 August 2008 If a Fixed Asset is imported and if it takes 2 months for delivery ,say Invoice date is 1st Jan 2008 and Delivery is received on 1st March 2008 when the Fixed Asset needs to be accounted in the books for purpose of Depreciation ?

Manish Karwa

Manish Karwa (Expert)
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14 August 2008 If its in Mar 08 then you have to include in FY 07-08

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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14 August 2008 1st March 2008, no doubt.

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