Accounting query

in my view it shoud not be recorded as inventory as per AS-2 AND AS-19

I shall disagree as the client's business is to rent laptops, not to sell them. The purpose of holding an asset is too important in classification. Here, the party is holding the asset for deriving future benefits and also have control of the asset. Sufficient to classify it as 'fixed assets'.

Please note that the reply is based on prima facie inference on your question.

Dear Member, 

AS 19 Conditions should be mate.