How to report Fixed asset under schedule ii
This query is : Resolved
30 September 2017
Now that property,plant and equipment has applicable from April 16 how to show it in balance sheet ending on 31.03.2017 is there any Additional reporting required
01 October 2017
not really...except for the bifurcation of current versus non current. (Normally PPE is non current subject to however the one you are sure of selling in the next following year)
01 October 2017
Do we have to stick to the format of scheduled 3 Fixed asset and current assets
01 October 2017
yes, the format as is given in the schedule III, of Companies Act 2013
01 October 2017
How to change Fixed asset to PPE in balance sheet can u illustrate
01 October 2017
Non-current assets
(1) (a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under
development
Bifurcate your fixed assets as per above 1 (a) (i) to (iv)
(1) (a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under
development
Bifurcate your fixed assets as per above 1 (a) (i) to (iv)
01 October 2017
But, then where the change of Property,plant equipment has to show in schedule 3
01 October 2017
what I mean is , since As-10 and As-6 withdrawn and new AS-property,plant &equipment
01 October 2017
schedule III is not asking you to show the changes. Is it?
And if you want to report such changes, you can attach a sheet containing your statement of changes in Fixed Assets as you used to do it in PRE 2013 era.
And if you want to report such changes, you can attach a sheet containing your statement of changes in Fixed Assets as you used to do it in PRE 2013 era.
01 October 2017
OK, Thank you sir
01 October 2017
you are most welcome....
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