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discount received on purchase of capital assets

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(Querist)
25 November 2010 Discount received on purchase of capital assets
where we account this in financial statement???
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CS ,CMA Shambhu Kr. jha

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CS ,CMA Shambhu Kr. jha (Expert)
25 November 2010
As far i think discount received is a nominal account regardless the matter that is has been earned on purchase of capital goods or otherwise

so it will be treated as the same as in the case of nominal goods
thanks
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
25 November 2010 reduce from cost in b/s refer AS 10
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