As per AS 10 interest is to be capitalised tilll the asset is aquired or completed
but what will be the treatment if the asset is acquired in next year
i.e what to do of interest on advance payment in current year show it asa asset suspemse account
if we just capitalise the interest part than how can we show it in 3cd asset wise detail
the interest will be capitalised and shown as fixed asset only next year because as per AS 10 the fixed assets can be recognised in the books only when the right of ownership is transferred.In the current year intetest has to be shown as advance in current assets together with the advance payment for the fixed asset
oh great sala mere dimag me kyu nahi aya
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