Hi
As per the new companies act 2013, based on Schedule II, remaining useful life of the asset is " Nil", then the written down value of the assets could be either be recognised in opening retained earrning or in the statement of profit and loss.
My query,
If we decied to recognise in the opening retained earning then how we should show in the Balance Sheet? How exactly it has to be presented?
Regards
Ramesh
check the file attached.
for more detail check reliance industries annual report for 14-15
Excellent
Many thanks
Regards
K R Ramesh
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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RBSM Corporate Advisors Private Limited
Pune
CA
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Anupam Parashar & Co.
Ghaziabad
CA Final
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CCI
Pro
CAclubindia
