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 Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
