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Why no amortization in year 20X3

Financial Reporting

In question no 18 The asset bought into use on 31 mar 20X3 , why should not amortization for that year sir Video Details ------------- Ind AS - CA Final Ind AS 38 Intangible Assets #23. Illustration 18: New process

Ramamoorthy Kaliyaperumal

Ramamoorthy Kaliyaperumal

CA Final

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20-Feb-24 07:11

271

Answers (4)

since only one day.

CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

20-Feb-24 18:55

Sir, As per IND AS 16 amortization start on when asset is ready for use, here used the assets on last date why should not be amortised

Thread Starter

Ramamoorthy Kaliyaperumal

Ramamoorthy Kaliyaperumal

CA Final

★ 3K+

21-Feb-24 05:43

Materiality. One day depreciation would not make much difference

CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

21-Feb-24 07:40

Ok sir thank you

Thread Starter

Ramamoorthy Kaliyaperumal

Ramamoorthy Kaliyaperumal

CA Final

★ 3K+

21-Feb-24 07:43

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