AS 10
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2010
IN BALANCE SHEET OF A NON PROFIT ORG IT IS SHOWN.. THE VALUE BOOKS AT ONLY RUPEE ONE WHAT DOES IT INTERPRET..?
11 December 2010
That means the organisation has recieved that asset for free from its member or any third party... For e.g if any hospital is recieves an ambulance as donation from anyone, so for hospital cost of acquisition becomes nil. But as it utilisis that asset, it needs to charge depreciation, so the ambulance is shown at very nominal value.., may be @ rs. 100 even...
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