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Treatment in case of insurance spares

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(Querist)
17 November 2008 Thanks sir.

Actually i have to audit a manufacturing (KSFL Urea manufacturing unit)concern in which insurance spares is purchased since 1982,so can the same rule b applied to that also cause that is amount of Rs.85lacs (Approx) and no one knows when we will install it.
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Deepak Agrawal

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Deepak Agrawal (Expert)
17 November 2008 These are to be kept as inventory (current assets)...

Check for old items & which are not going to be useful in current scenario suchas old tyoes of nuts & bolts, etc...
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kamini

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kamini (Querist)
18 November 2008 Im sorry i didn;t get it plz explain it
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