Businesses and enterprises around the world are witnessing major expansion and diversification including India, thanks to Liberalisation, Privatisation and Globalisation Policy. Since then, there have been huge technology advancements and world is becoming global village. Having said that, there is distinguishable amount of capital expenditure and multiple compliance requirements are being met. Huge capex requires...
Objective This standard deals with: Recognition of the assets. The determination of the carrying amounts. The Depreciation charges. Recognition of impairment losses. Non-Applicability of Ind AS-16 This standard does not apply to: PPE as held for sale. Biological assets related to agricultural activity other than bearer plants. Recognition and measurement of exploration and evaluation assets....
Brief Background: – CARO stands for Companies Auditor Report Order. It is an order which lists down the matters on which an auditor is required to report. Section 143 of Companies Act, 2013 mandates reporting on CARO. CARO was introduced to get reports on certain matters that Ministry of Corporate Affairs (MCA) deemed important. Thus,...
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