AS 10 Property, Plant, and Equipment prescribes the accounting treatment for properties, P&E (Plant and Equipment) so that financial statement consumers can recognize and appreciate information about any enterprise’s property, P&E investment, as well as understanding changes in such investments. It’s also worth noting that AS 6 – Accounting for Depreciation has been withdrawn, and […]
Inventory accounting care is recommended in AS 2 valuation of inventory, which provides guidelines on how to assess the value at which inventories are carried out before the relevant sales are recognized in the financial statement.
Introduction to AS 2 – valuation of inventories
IAS 2 is an international financial reporting standard that the International Accounting Standards Board […]