Menu
Accounting of freezer of the company
COMPANY PURCHASE FREEZER FOR GIVING TO THEIR DISTRIBUTERS FOR USE FREE OF COST BUT OWNERSHIP REMAIN WITH COMPANY SO WHETHER IT IS TREATED AS ASSET OF ANY THING ELSE
Replies (1)
"An asset is a resource controlled by an enterprise from which future economic benefits are expected to flow to them". When an asset meets this criteria and cost can be measured reliably it should be recorded as an asset. However a note can be appended in notes to accounts that possession of that much asset is with dealers while retaining the ownership.
Recent Topics :
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
Related Topics :
CAclubindia
