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Accounting treatment of assets not considered earliernq
IF assets not taken in business for earlier period , but taken in business in this financial year , what are accounting treatment and also depreciation treatment.
Replies (1)
it is clear case of period period item. ypu must restate previous period by adding the asset and depreciation to the previously shown financial statements.
you also need to show a discourse in the financial statement as per ias 8
you also need to show a discourse in the financial statement as per ias 8
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