The below mentioned article provides an overview on the Valuation of Intangible Assets:- 1. Meaning of Intangible Asset 2. Process of Valuation of Intangible Assets 3. Recognition and Initial Measurement 4. Separate Acquisition 5. Acquisition by Way of a Government Grant 6. Cost of an Internally Generated 7. Recognition of an Expense 8. Amortization 9. Impairment Losses 10. Retirements and Disposals. [...]
In this article we will discuss about the meaning and classification of current assets. Meaning of Current Assets: Current assets are defined as "cash and other assets that are expected to be converted into cash or consumed in the production of goods or rendering of services in the normal course of business". Items are included in current assets on the [...]
AS-10 'Accounting for Fixed Asset' has the following guidelines with regard to fixed asset: Determining the Cost of a Fixed Asset: The gross book value of an asset is the historical cost or the cost at which the asset is actually acquired. According to AS-10 Accounting for Fixed Assets', cost is directly attributable cost of bringing the assets to its [...]