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Audit of fixed asset

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(Querist)
27 June 2016 When an entity should record fixed asset in books like machinery purchased ...either on payment or either on receipt of such machinery
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Rupesh Jain

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Rupesh Jain (Expert)
27 June 2016 its on the receipts of the assets, and charge deprecitaion when it put to use, payment term mention in the purchase order or in purchases agreement.

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