I did not understood the meaning of one provision of schedule 2 of companies act 2013
can any one explain me with clear example ?
the provision is "If remaining useful life is NIL, after retaining the residual value, the remaining
Carrying amount to be recognized in opening balance of retained earning"
Thanks in advance
In such case, assets need to be written off from balance of Retained Earning. Balance Sheet of 31.03.2015 need to comply this.
R P S K & Associates
Nashik
CA Inter
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Triveni Turbine Limited
Bengaluru
CA
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CAclubindia
