Livestock is a fixed asset. However on death of a broodmare while foaling what accounting treatment be given? What if foal survives but mare dies. How the insurance claim receivable be accounted? Is there an accounting standard which deals with the issue or any other article which will help?
Menu
Livestock accounting treatment
Replies (2)
Hi Usha,
you are asking very good question!!!
I think, in case of death of Livestock is loss so may be debited to your Profit & Loss Account.
Please let me know about the correct treatment......
what are livestock items
Recent Threads
- Hardship compensation recd from builder (redevelop
- ITC CLAIM REGARDING EXPENSES
- Section 54 exmeption on under construction propert
- Taking too long to process ITR-2
- RCM or not
- AIS NOT OPEN
- ICICI BHARAT 22 FOF AND NASDAQ 100 FOF CAP GAIN TA
- Schdule BFLA and CFL Error regarding adjustment of
- CIRCULAR WITH RESPECT TO WAIVER OF INCOME TAX OUTS
- How does opting for 44AD impact speculative income
Related Threads
CAclubindia
