1. CONDITIONS
1.1. Tangible fixed assets
1.2. Held for use in P A S
1.3. held for rental porpuse
1.4. Economic benefits
1.5. Cost
2. Other conditions
2.1. Fire safety & Pollution control equipment
2.1.1. PPE
2.2. Insignificant value
2.2.1. Merge
2.3. Immaterial value assets
2.3.1. Revenue exp. ( PL)
3. EXCLUSION
3.1. Ind AS - 41 (BIOLOGICAL ASSETS)
3.1.1. Bearer plants
3.1.1.1. Life >1 yr
3.1.1.2. Agriculture produces
3.1.1.3. Intention not to get lumber
3.2. Ind as -104 ( retied assets & asset held for sale )
3.3. Ind as - 105 (minral oil & ores & othr westing assets)
4. Measures
4.1. Initial recognition
4.1.1. Purchased assets
4.1.1.1. Purchase price +Related expenses *(Not GAS & AIS) + PV of cost of dismantling
4.1.2. Self genrated
4.1.2.1. Dm + dl + d. exp. *Inter deptt txn = cost
4.1.3. Hire purchase
4.1.3.1. Cash price = ppe * Othr over & above payment = intt = (pl)
4.1.4. Exchange of assets
4.1.4.1. Fair value concept
4.2. Additional cases
4.2.1. Deferred payment
4.2.1.1. Pv of the amount = ppe * Calculate intt. P.a
4.2.2. Incidental operations
4.2.2.1. Not part of cost of ppe * Considered as income t/f to PL
4.2.3. Lease
4.2.3.1. Operational lease
4.2.3.1.1. Ind as - 16
4.2.3.2. Financial lease
4.2.3.2.1. Ind as - 116
4.3. Subsequent recognition
4.3.1. Repair & replacement
4.3.1.1. Charge to PL a/c
4.3.2. Replacement
4.3.2.1. De recognition the old Recognition the new
4.3.3. Inspection & overhaul
4.3.3.1. Component of part of assets * W/o during the pd of its life