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Former Member

Asset WDV transfer - IndAS (for India)

Hi Experts,

As per recent IndAS changes, WDV as on 31st March 2015 needs to be gross block as on 1st April 2015.

For ex:

As on 31st March 2015 - Gross Block is Rs. 25,000 and accumulated depreciation is Rs.5000 (assuming 10 years of life). Hence WDV as on 31st March 2015 is Rs. 20,000.

As per new IndAS - gross block should be now Rs.20,000 with accumulated depreciation as "zero" as on 1st April 2015.

We did manual work (outside SAP) for publishing our financial for this 6-7 quarters. However now we want this modification as on 31st March 2017. So as on 31st March 2017, our asset value should be:

GROSS BLOCK - Rs.20,000

Acc Depreciation - Rs. 5,000 (further depreciation for FY 2015-16 and FY 2016-17)

WDV - Rs. 15,000.

Please help: How to meet this requirement.

--

Deepak

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    Former Member
    Jan 03, 2017 at 05:53 AM

    Experts, Can anyone help.

    SAP has released SAP note - 2279087 stating that they don't support disclosures / presentations for IFRS / IndAS purpose

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