what is the time period for an asset to bcome a qualifying asset?
what do we mean by commitment charge?
does amortistion o ancilliary cost includes underwriting charges?
why xchange diference arising rom foreign currency borrrwing is treated as a borrowing cost to the extent that they aare regaded as an addjustment to th interest cost?
what is the time period for an asset to bcome a qualifying asset = no time limit given, its depands on facts & circumstances.
A qualifying asset: is an asset that necessarily takes a substantial* period of time to get ready for its intended use or sale.
*ordinarily, a period of twelve months is considered as substantial period of time unless a shorter or longer period can be justified on the basis of facts and circumstances of the case. [Accounting Standard Interpretation -1]
commitment charge: at the charges levied by the bank on short-term borrowings (CC limit etc.) for non-utilisation of limit sanctioned.
is truck a qualifying asset?
| Originally posted by : sukriti jain | ||
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is truck a qualifying asset? |
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no, as it does not take substantial time to get ready....
moreover, there may be different opinion of different people
THANX A LOTT
CAclubindia
