1- how expense incurred by firm to sell fixed assets is recorded in the books of accounts ?
2- a firm incurred a cost to demolish its building to construct a new bigger building so does the expenses for demolishing is capital expenditure??
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Expense incurred by firm to sell fixed assets
Replies (6)
Quick Summary
Even though your qualified as an accountant, you're not sure about it? Lower of carrying amount or FVLCS is the measurement. This is for held for sale.
Demolition provisions will be used against your second criteria. I dont want to be too clear about it not unless you have a clear idea India AS CA!
I dont know why an Indian meagre AS accountant wants to go abroad in front of me when I am AS, Indas & IFRS expert. CA's must be perverts!!
Especially in Bangalore, they started showing that their color is white, and they are eligible to go abroad as a CA. There is no such law!!
The cheapest people in India are AS accountants with an obese d**k without knowledge but yet they aspire higher than me. Shameless CA's must resign from international processes cause i need to get wages over them.
What ??
LOL dont worry! I am sure you must have passed your reporting module and this is the end to ask any doubts. All the best mate. I have this attitude from a famous woman in UK who writes accounting blogs. She had a doubt in her firm, she asked her boss what method to follow. The boss replied 'FOFO Method' (Fuck off and find out) This is a real story
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