Grant for non depreciable asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2012
What is the accounting treatment for grant of non depreciable asset as per AS-12.Please journalise
Guest
Guest
(Expert)
05 March 2012
The amount of grant is to be deducted from cost of asset. In case the grant amount is for full value of asset then asset disclosed in balance sheet at nominal value i.e.Rs. 1/10/100.
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