chirag (student) (37 Points)
04 April 2010Can anyone please tell me if there is a separate disclosure needed for Furniture and Office Equipment in the final schedule to Balance Sheet, or is it fine if we club both of them and show the aggregate.
I mean is it okay to show in final shecdule as:
Furniture and Office Equipment
or should it be:
Furniture
Office Equipment
Indu M R
(Manager, Finance)
(30 Points)
Replied 04 April 2010
Yes, they can be clubbed, provided the depreciation rates are the same...they can be discosed as fur and OE
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 04 April 2010
no need to show them separately............ you may club them in the balance sheet.............
CA Ankur Dhamanaskar
(Student)
(295 Points)
Replied 05 April 2010
Appear as a clubbed figure in balance sheet............but has to be valued separately i.e, to be shown separately in fixed asset register for depreciation purpose..........!!!
manikandan.J
(Accounts Manager)
(363 Points)
Replied 09 April 2010
hi
you better do show the separte furniture and Office equipments it is very useful for you when your required the Deletion of the furniture and office equipments claim the separately otherewise clubbed the both means it called block Assets either furniture nor office equipments lost/loss/theft you can't claim the separtely that way you show both assets separtely it is better for the future.
manikandan.J
(Accounts Manager)
(363 Points)
Replied 09 April 2010
hi
you better do show the separte furniture and Office equipments it is very useful for you when your required the Deletion of the furniture and office equipments claim the separately otherewise clubbed the both means it called block Assets either furniture nor office equipments lost/loss/theft you can't claim the separtely that way you show both assets separtely it is better for the future.
manikandan.J
(Accounts Manager)
(363 Points)
Replied 09 April 2010
hi
you better do show the separte furniture and Office equipments it is very useful for you when your required the Deletion of the furniture and office equipments claim the separately otherewise clubbed the both means it called block Assets either furniture nor office equipments lost/loss/theft you can't claim the separtely that way you show both assets separtely it is better for the future.
CA PRAVEEN MIGLANI
(Deputy Manager)
(26 Points)
Replied 10 April 2010
Hi All,
In my opinion the furniture and fixtures and the office equipments cant be merged and shown together because the rate of depreciation of both are different (i.e.. 18.10% and 13.91% respectively)
So, we have to show them separately.
I hope it clarifies your doubt...
CAclubindia
