Treatment of subsidy received
This query is : Resolved
18 September 2009
I m doing the audit of a Private limited co...
The Company has received subsidy from government against plant & machinery of Rs.1014900 on 11/what is the treatment of te same in the balance sheet & how can i disclose the same in Notes to accounts.
Plz advice soon
The Company has received subsidy from government against plant & machinery of Rs.1014900 on 11/what is the treatment of te same in the balance sheet & how can i disclose the same in Notes to accounts.
Plz advice soon
18 September 2009
if it is capital subsidy reduce it from cost of plant etc and give a note in accounts that it has been done like this
19 September 2009
Yes, read the provisions of AS-12 for better understanding. If any doubt, you can always ask in the forum.
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