land as asset
This query is : Resolved
05 May 2009
If a Government Company shows a freehold land as its asset, although the registration is still pending with the Government (the transferor). Can it show it as its asset?
06 May 2009
It can show it as an asset if the agreement for sale has been executed and just registration is pending.
06 May 2009
No the land can not be shown as assets as the title is still not in the name of the company. The company has to show the amount paid for land as advance in it's books.
23 July 2009
thank you.
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