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AS 16 & AS10

Anu Agarwal (Manager-Audits) (173 Points)

15 December 2008

Can Someone lz explain me the difference between both these standards

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5 Replies

rani (article assistent) (53 Points)
Replied 15 December 2008

Originally posted by :Anu Agarwal
"	Can Someone lz explain me the difference between both these standards	"

why are you searching for difference batween stds, both are absolutely different standards.As per AS-10 any expenditure up to asset ready for use can be capitalised.Asper AS-16 interest expenditure can be capitalised only if it is QUALIFYING asset

navneet gupta (student article assistent) (53 Points)
Replied 16 December 2008

Hey Anu..

Um sending You Some files.. hope these files make you sure about the difference between AS10 & AS16.

But Rani is right They are totally Different.

Blss u.

Attached File : 17 as10 &16.rar downloaded: 248 times

vivek kumar agarwalla (Article Assistant) (67 Points)
Replied 16 December 2008

AS 10 talks about accounting for fixed assets which are in use or ready for use and depreciation is charged on these assets.

on the other hand, AS16 reflects on assets which take longer than a year for their construction(known as qualifying assets) which are not yet ready for use and substantial work(whether administrative or otherwise) is going on.

P.L.PRASAD (SERVICE) (94 Points)
Replied 17 December 2008

Hai Navaneetji,

you uploaded the file regarding As 10 and 16. but files . I am unable to open those. if you dont't mind please can you send those files to my mail ID. I would be greatful to you

laxmana.prasad @ gmail.com

abhishek bhatt (CA student) (136 Points)
Replied 26 December 2008

in simple words AS 10 relates to fixed assets only like presentation , disclosure, trearment, recognition & so on but AS16 relates to borrowing treatment for fixed assets and considering based on no. of factors whether to capitalise or not.Note both are in connection with fixed assets but they setup standards for Diff things.

bye