Accounting standard

Ya there are changes. Accounting Standards Rules 2006 were issued by the Central government and the corresponding changes were made to the accounting standars regarding their applicablity and certain accounting standard interpretations.

Please clarify my doubt any body can accumulated depreciation on Fixed Assets.  Can negitive balance comes

Mr. Ravi,

A Fixed Asset can not have a negative balance at all as it is cost of the assets which is to be depreciated over the useful life of the asset.

Hence in any case accumulated depreciation can not exceed the cost itself, resulting in to the negative carrying balance of the aset.

Hope your query is resolved.

Thanks

Manmohan Sharma

No, the accumulated deprection on any fixed assets can't  be exceed from the original cost (historical cost) of that fix asset.