FRS39 Section 34A Assets on Capital account

FRS39 deals with financial assets.

Inventories and fixed assets are outside the scope of the FRS.

FRS39 requires us to categorise and differentiate our assets ie. as to whether our assets are capital or revenue in nature.

Gains or losses related to capital assets will not be taxable nor deductible.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s