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Accounting for live stock

Accountancy

Does live stock(like cow,hen,sheep for wool,milk etc) is included in the scope of AS-10

Atharv Sankliya

CA Final

★ 3K+

18-Mar-23 00:57

670

Answers (8)

AS 10 does not apply to biological assets related to agricultural activity other than bearer plants. So these are not covered.

CA Suraj Lakhotia

Admin

19-Mar-23 07:59

Not sure where you took the footnote from.

CA Suraj Lakhotia

Admin

19-Mar-23 08:23

CA Suraj Lakhotia Admin

Not sure where you took the footnote from.

MCA website

Thread Starter

Atharv Sankliya

CA Final

★ 3K+

19-Mar-23 08:47

Share the entire file

CA Suraj Lakhotia

Admin

19-Mar-23 08:53

CA Suraj Lakhotia Admin

Share the entire file

Attachments

AS10_16012018.pdf

Thread Starter

Atharv Sankliya

CA Final

★ 3K+

19-Mar-23 08:55

Refer 3(a)

CA Suraj Lakhotia

Admin

19-Mar-23 09:05

CA Suraj Lakhotia Admin

Refer 3(a)

Ok sir but what about that. Footnote

Thread Starter

Atharv Sankliya

CA Final

★ 3K+

19-Mar-23 09:15

Thread Starter

Atharv Sankliya

Ok sir but what about that. Footnote

For e.g if dog is used for security purpose. It will be classified as PPE since not used for Agricultural activity.

CA Suraj Lakhotia

Admin

20-Mar-23 09:52