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Recognition of asset on hire purchse basis

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(Querist)
20 August 2009 can u plz tell me sir one of my clients has purchased asset on hire purchase basis. At what amount it should be recognised and is there any alternative method of accounting and/or disclosure.
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vijay singhal

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vijay singhal (Expert)
22 August 2009 capitalise the cash price of asstes & keep the interest in interest suspense account.

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