Fixed assets for csr purpose (under ind as)
This query is : Open
09 February 2017
A Public Limited company spent expenditure on CSR under – “Ensuring Environmental Sustainability” and procures plant & machinery for Waste Paper re cycling unit and use the same.
Under IND AS, how the accounting is done for the same, the useful life of the plant in more than one reporting period. Is it comes under Fixed Assets (According to IND AS) or charge to Profit & Loss Account for that period ?
Under IND AS, how the accounting is done for the same, the useful life of the plant in more than one reporting period. Is it comes under Fixed Assets (According to IND AS) or charge to Profit & Loss Account for that period ?
09 February 2017
AS per Guidance Note on CSR of ICAI it should be charged entirely to profit loss account
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