ACCOUNTING FOR RUBBER PLANTATION

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2010 A Company 'a' had started a Plantation for Rubber Trees few years back.
All the Exps. for Plantation were Capitalised.
Now, Rubber Plantation has started and hence, Commercia;l Production of Rubber has Started.
I would like to know the Accounting for such a Company.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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02 January 2011 The plantation crops which have started yielding fruits are charged depreciation in zonal instalments depending on the revenue yielding period of each crop”.

The capitalisation of the crop is stopped from the year it starts bearing fruits.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2011 Sir,

Thanks a lot for your Reply.
I would be very thankful if you can guide if there are any books or any website for such acocunting for plantation. so that I can know the rate of depreciation and other accounting rules relating to it.

Again thanks a lot for your help.

Vaibhav

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