dear all,
this forum is for expressing ur views about differents aspects of Accounting Standards, like pointing out a specific point, querry on any point, answering querry, comment on points etc.
PLEASE CONTRIBUTE FOR DISCUSSING THE ACCOUNTING STANDARDS.
I think it will be most usefull discussion on many aspects of ASs.
please avoid the comments like "THANKS...., NICE POST...., KEEP SHARING...., ETC.
AS-10 required to disclose the amoun tof Gross and Net Book Value at the beginning and ending of the accounting period.
So we should prefer to accumumate the deprecitaion rather than crediting to fixed assets year to year, so that disclosure requriement can be easily met out.
Proportionate amount of administrative and other general overhead specifically attributable to the acquisition of fixed asset may be added to the cost. It is not compulsory.
Livestock, agricultural and forest products are not dealt with by any AS..
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