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You can post acquisition value to the asset in the Depreciation Area for Indian GAAP without posting it anywhere else (as long as your Indian GAAP DA is a real depreciation area and not a derived area and the rules you have set allow the value to vary from Book DA 01). Use a journal entry, enter posting key 70 and the asset number and post the credit to an overhead recoveries account in the P & L. You may want to split this overhead recovery across several cost centres, but you can do that too, either in the same document or in a further one.
Rgds, Roy
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| | | ---------------Original Message---------------
From: jyotim2
Sent: Tuesday, April 12, 2011 9:11 AM
Subject: How to Capitalize Overhead expenses pertaining to the construction of Fixed assets?
Hello Experts!
Overhead expenses pertaining to the construction of Fixed assets need to be be capitalized as per Indian Accounting standards. But at the same time according to IFRS standards the Overhead capitalization is not acceptable. I want to know whether there is any kind of transaction or customization to post these overhead expenses such that they appear only in leading ledger and the Non leading ledger of Country specific only and not in IFRS set non leading ledger.
Waiting for valuable inputs
Thanks & regards
Jyoti |
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