02-10-2005, 09:06 PM
The IAS states that if an asset generates economic beneift (be it cost reduction or increase in revenue) and can be measured it should be recongnised as an asset and depriciated over its life..
IN a manufacturing concern where the company holds some service assets like eg coomputers or calculators just for increasing efficiency or quality of work, what treatment would such assets require in the financial statements becuase it does not accrue some financial benefit but has to be included in some way.
please guide me on the correct treatment ) thanks )
Muqtader Abbas Shah
IN a manufacturing concern where the company holds some service assets like eg coomputers or calculators just for increasing efficiency or quality of work, what treatment would such assets require in the financial statements becuase it does not accrue some financial benefit but has to be included in some way.
please guide me on the correct treatment ) thanks )
Muqtader Abbas Shah
