Fixed asset addition

yes, it is necessary because somehow some value additions made to FA from WIP stage. Further, the condition of that FA, physical verification is also necessary.

Yogesh....i am not considering the pyhsical verification over here....my ques is simple if we had already done testin in CWIP then why again checking has to be done in FA....??

It dosent matter whether you have checked CWIP previously still you need to check again after its completion as few installations, erection, similar expenses takes place to put the asset in use. Hence, rechecking is required.

It dosent matter whether you have checked CWIP previously still you need to check again after its completion as few installations, erection, similar expenses takes place to put the asset in use. Hence, rechecking is required.

Dear Arpit Jain,,

Its required because auditor (by regulations) need for seeking assurance and accuracy in the Financial matters.