Posting of spares inventory which is showed as consumed but subsequently refurbished and put to use


This query is : Resolved 

(Querist)
06 March 2017 Are there any specific guidelines to post spares inventory which is consumed, as it aids in production process but subsequently physically the spares is intact and can be put to use after refurbishment even if the useful life of said spares material is over.

06 March 2017 Even if the spares is intact, you have already shown the spares as consumables. Thus, no further transaction entry is needed to be passed for the purpose.

Shahin (Querist)
06 March 2017 No it has been showed as consumed i.e. Issued for consumption so as per records it has no inventory but after refurbishment it is now reusable

10 August 2024 https://docs.google.com/document/d/1PVzXOt8WWNsSsqWZCjzCMwkDl3HjtBNbZa9YsNrmIdk/edit?usp=sharing


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details