Hi,
Our company will be receiving few assets at zero cost. Please let me know the below:
Which AS should be referred
At what cost should these be recorded
How should accounting entries be routed
Thanks for the reply. Pls clarify which Para in AS 12 states that these assets can be recorded at NBV
depends on the company environment if the company having say 100crores in their B/S then they can show that at 100 rupees also even they can show that at Re.1 also
its just a matter of perseption
CAclubindia
