| |
GeekInterview.com > Interview Questions > Accounting > Fixed Assets
| Print | |
Question: Nature and accounting treatment for fixed asset
Answer: Explain the nature and accounting treatment for fixed asset.
|
| July 07, 2009 09:56:40 |
#1 |
| balajinanduri |
Member Since: May 2009 Total Comments: 4 |
RE: Nature and accounting treatment for fixed asset
|
Once the asset is purchased it is recorded in the books of accounts by using money measurement concept. It takes in to account only the expenditure incurred for purchasing the asset.
As per the company procedures depreciation will be calculated. Depreciation fund will be maintained. |
| |
Back To Question | |
