accounting standard as 10 deals with
Answers
Answer:
Accounting Standard 10 deals with Property, Plant and Equipment (PPE). The underlying purpose of this standard is to lay down or specify accounting treatment for Property, Plant and Equipment.
Answer:
DEFINITIONS
Property, plant and hardware are unmistakable things that:
(a) are held for use in the creation or supply of labour and products, for rental to other people, or for managerial purposes; and
(b) are supposed to be utilized during in excess of a time of a year.
The objective of Accounting Standard (AS) 10
Property, Plant and Equipment are to endorse the bookkeeping treatment for property, plant and hardware so clients of the fiscal summaries can observe data about speculation made by an endeavour in its property, plant and gear and the progressions in such venture.
The chief issues in representing property, plant and hardware are the acknowledgement of the resources, the assurance of their conveying sums and the deterioration charges and weakness misfortunes to be perceived according to them.
Scope
1. This Standard ought to be applied in representing the property, plant and gear with the exception of another Accounting Standard that requires or allows an alternate bookkeeping treatment.
2. This Standard doesn't matter to
(a) organic resources connected with farming movement other than produce on carrier plants; and
(b) squandering resources including mineral privileges, use in the investigation for and extraction of minerals, oil, petroleum gas and comparative non-regenerative assets.
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