Fixed assets
This query is : Resolved
12 September 2019
Does following constitutes Fixed Assets??
1. Bio Gas Plant
2. Borewell
3 Fencing
4 Labour Cottage Equipments
5 Slaughter House Equipments
6 Slaughter House Fencing
7 Work Shed
1. Bio Gas Plant
2. Borewell
3 Fencing
4 Labour Cottage Equipments
5 Slaughter House Equipments
6 Slaughter House Fencing
7 Work Shed
12 September 2019
As per INDAS-16
. Recognition of Assets.
The cost of an item of PPE that meets the two fundamental recognition criteria must be an Asset
a.Must entail future economic benefits for the entity
b.Cost should be measured reliably
The criteria apply to initial as well as subsequent expenditure
. Recognition of Assets.
The cost of an item of PPE that meets the two fundamental recognition criteria must be an Asset
a.Must entail future economic benefits for the entity
b.Cost should be measured reliably
The criteria apply to initial as well as subsequent expenditure
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