I heard that, till the asset is put to commercial use all the cost (including interest cost on borrowed fund) has to be capitalized and included in cost of asset
If its true..Will the Trial Run expense be included in cost of machinery.
Or will trial run expense be treated as revenue expenditure-ordinary but exceptional and debited to P&L a/c
*** Trial Expense includes direct material, direct labour, direct overheads etc***
Dear Experts,
please guide me whats is mobilization advance and how to recover mobilization advance in normal terms.
A co. has 50 switchboard as on 31 mar. on which sale price was rs.4500 per swbrd but out of these 20 were expected to b sold in following month when sale prc is expected to b rs.4000. what is value of cl.stock as per AS-2 IF THEY R VALUED AT NRV SINCE THEIR COST OF MFGH IS VERY HIGH.
A person who taking the labours through a contractor and paying the total labour charges to Contractor is he liable for deducting the EsiC on that payment
i am chartered accoutnant i want to know what is international accounting standards and where i can get all this give me book name or websites name where i can see international accounting standards..
please help me to calculation method of the ex-interest & cum-interest. also explain the difference between both?
can anyone tell me how to make accounts for insolvency of firm.
What about the small vendors like karyana shops etc....How should they prepare their accounts as most of the goods involve very nominal amounts..?
Dear Friends,
What are differents aspects to be emphasised in construction industry regarding revenue accounting?
What is the meaning of APC charges?
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AS-10 Cost of Fixed Assets