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Ind AS 16-Property, Plant and Equipment

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(Querist)
31 August 2023 Say, I have bought an asset for Rs. 12 Lakhs on 1 December 2022. The expected useful life of asset is 1 year. Where the asset is shown in balance sheet on 31 March 2023?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 August 2023 Charge it to p and l account as the life is one year.
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Faheemuddin Mohammad

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Faheemuddin Mohammad (Querist)
01 September 2023 Doesn't it substantially affect my Q3 Result?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
01 September 2023 That can't be the issue.

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