Fixed Assests

Tax queries 1059 views 16 replies
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18 Points Joined March 2007
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On 20 June 2009 at 17:25 Report
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18 Points Joined March 2007
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On 20 June 2009 at 17:25
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Hi

As per AS 16 the Borrowing Costs should be capitalised as part of the Cost of the "Qualifying Assets". Qualifying Assets means assets which take Substantial Period of time to be ready for its intended use.

Accounting Standard Intrepretation says that Substantial Period of time can be taken as one year.

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On 24 June 2009 at 15:17


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