Decommisioned Asset

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Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2010 Plz tell me what is decommisioned asset.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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24 May 2010 In case of Government sector undertakings due to change in technology certain assets maynot be useful. For eg. in telephones if there is change in speed of the transfer of data then the old wires will not be usable. They will remove those things and will be kept in their godowons. The assets removed from the use but which has a value is called as decommissioned asset.

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2010 Thanx Sir...Actually I was doing audit of BSNL and there was fiat car in "decommisioned asset a/c".It is only in case of govenment sector? Can u tell me other points that show that asset can be transfered to decommissioned asset........

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Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2010 Is there any accounting standard for decommissioned asset?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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28 May 2010 There is no seperate accounting standard for decommissioned asset. Only in government sector this type of asset entry is passed to have a control over the asset.