Write down the sailent features of accounting standard-06
Answers
Answered by
0
HEYA MATE
❤️HAPPY NEW YEAR❤️
HERE IS YOUR ANSWER
Accounting Standard (AS) 6,
Depreciation Accounting, was issued by the Institute in November 1982. Subsequently, in the context of insertion of Schedule XIV in the
Companies Act in 1988, the Institute brought out a Guidance Note on Accounting for Depreciation in Companies which came into effect in respect of accounting periods
commencing on or after 1st April, 1989. The Guidance Note differed from AS 6 in respect of accounting treatment of (a) change in the method of depreciation, and (b)
change in the rates of depreciation. It was clarified in the Guidance Note, with regard to the matter at (a), that AS 6 would be revised to bring it in line with the recommendations of the Guidance Note.
HOPE THIS WILL HELP YOU
❤️HAPPY NEW YEAR❤️
HERE IS YOUR ANSWER
Accounting Standard (AS) 6,
Depreciation Accounting, was issued by the Institute in November 1982. Subsequently, in the context of insertion of Schedule XIV in the
Companies Act in 1988, the Institute brought out a Guidance Note on Accounting for Depreciation in Companies which came into effect in respect of accounting periods
commencing on or after 1st April, 1989. The Guidance Note differed from AS 6 in respect of accounting treatment of (a) change in the method of depreciation, and (b)
change in the rates of depreciation. It was clarified in the Guidance Note, with regard to the matter at (a), that AS 6 would be revised to bring it in line with the recommendations of the Guidance Note.
HOPE THIS WILL HELP YOU
Similar questions