{"id":1161,"date":"2026-02-24T07:30:29","date_gmt":"2026-02-24T07:30:29","guid":{"rendered":"https:\/\/carohitsethi.com\/?p=1161"},"modified":"2026-02-24T07:30:30","modified_gmt":"2026-02-24T07:30:30","slug":"why-as-10-matters-in-advance-accounting","status":"publish","type":"post","link":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/","title":{"rendered":"Why AS 10 Matters in Advance Accounting"},"content":{"rendered":"\n<p>Every business uses fixed assets like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Land &amp; building<\/li>\n\n\n\n<li>Plant &amp; machinery<\/li>\n\n\n\n<li>Furniture &amp; vehicles<\/li>\n<\/ul>\n\n\n\n<p>If PPE is not accounted for properly:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Asset values become misleading<\/li>\n\n\n\n<li>Depreciation gets distorted<\/li>\n\n\n\n<li>Profits are wrongly reported<\/li>\n<\/ul>\n\n\n\n<p>AS 10 lays down clear rules for recognition, measurement, depreciation, and disposal of Property, Plant and Equipment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Objective of AS 10<\/h2>\n\n\n\n<p>To prescribe the accounting treatment for PPE so that users can understand:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investment in fixed assets<\/li>\n\n\n\n<li>Changes in such investment<\/li>\n\n\n\n<li>Depreciation charged<\/li>\n\n\n\n<li>Carrying amount of PPE<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Meaning of Property, Plant and Equipment (PPE)<\/h2>\n\n\n\n<p>PPE are tangible assets that:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Are held for use in production or supply of goods or services<\/li>\n\n\n\n<li>Are expected to be used for more than one accounting period<\/li>\n<\/ol>\n\n\n\n<p><strong>Examples:<\/strong> Land, building, machinery, vehicles, furniture, office equipment.<\/p>\n\n\n\n<p><strong>Buy Course:<\/strong> <a href=\"https:\/\/carohitsethi.com\/index.php\/product-category\/courses\/\">CA Intermediate <\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Recognition of PPE<\/h2>\n\n\n\n<p>An item of PPE should be recognized as an asset only if:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Future economic benefits are probable<\/li>\n\n\n\n<li>Cost can be measured reliably<\/li>\n<\/ol>\n\n\n\n<p>Otherwise, expense it off.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Cost of PPE<\/h2>\n\n\n\n<p><strong>Cost includes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Purchase price<\/li>\n\n\n\n<li>Import duties &amp; non-refundable taxes<\/li>\n\n\n\n<li>Directly attributable costs:<\/li>\n\n\n\n<li>Freight<\/li>\n\n\n\n<li>Installation<\/li>\n\n\n\n<li>Site preparation<\/li>\n\n\n\n<li>Professional fees<\/li>\n<\/ul>\n\n\n\n<p><strong>Excludes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Opening of new facility costs<\/li>\n\n\n\n<li>Advertisement &amp; promotional costs<\/li>\n\n\n\n<li>Administration &amp; general overheads<\/li>\n\n\n\n<li>Abnormal wastage<\/li>\n\n\n\n<li>Interest (unless AS 16 applies)<\/li>\n<\/ul>\n\n\n\n<p><strong>Read Also:<\/strong> <a href=\"https:\/\/carohitsethi.com\/index.php\/2026\/02\/21\/understanding-as-9-revenue-recognition-ca-intermediate\/\">Understanding AS 9 (Revenue Recognition) \u2013 CA Intermediate<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Self-Constructed Assets<\/h2>\n\n\n\n<p>Cost includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Direct material<\/li>\n\n\n\n<li>Direct labour<\/li>\n\n\n\n<li>Direct expenses<\/li>\n\n\n\n<li>Appropriate overheads<\/li>\n<\/ul>\n\n\n\n<p>Same principles as purchased assets apply.<\/p>\n\n\n\n<p><strong>Subsequent Expenditure<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Capitalise if it increases future economic benefits<\/li>\n\n\n\n<li>Expense if it only maintains existing performance<\/li>\n<\/ul>\n\n\n\n<p><strong>Example:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Major overhaul extending asset life \u2192 Capitalise<\/li>\n\n\n\n<li>Regular repair &amp; maintenance \u2192 Expense<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Depreciation under AS 10<\/h2>\n\n\n\n<p>Depreciation is the systematic allocation of the depreciable amount over useful life.<\/p>\n\n\n\n<p><strong>Depreciable Amount = Cost \u2212 Residual Value<\/strong><\/p>\n\n\n\n<p>Depreciation begins when asset is available for use, not when actually used.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Change in Depreciation Method<\/h2>\n\n\n\n<p>Change is allowed only if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Required by law, or<\/li>\n\n\n\n<li>Results in more appropriate presentation<\/li>\n<\/ul>\n\n\n\n<p>Treated as change in accounting estimate \u2192 Adjust prospectively<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Revaluation of PPE<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Entire class of assets must be revalued<\/li>\n\n\n\n<li>Revaluation should be done regularly<\/li>\n\n\n\n<li>Increase credited to Revaluation Reserve<\/li>\n\n\n\n<li>Decrease charged to P&amp;L (subject to reserve)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Retirement &amp; Disposal of PPE<\/h2>\n\n\n\n<p>On disposal:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Remove asset &amp; accumulated depreciation<\/li>\n\n\n\n<li>Profit\/Loss = Sale proceeds \u2212 Carrying amount<\/li>\n\n\n\n<li>Recognise in P&amp;L Account<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Numerical Illustration<\/h3>\n\n\n\n<p><strong>Cost of machinery = \u20b910,00,000<br>Residual value = \u20b91,00,000<br>Useful life = 9 years<\/strong><\/p>\n\n\n\n<p>Depreciable amount = 9,00,000<br>Annual depreciation (SLM) = \u20b91,00,000<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Disclosure Requirements<\/h2>\n\n\n\n<p>An enterprise should disclose:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gross carrying amount<\/li>\n\n\n\n<li>Accumulated depreciation<\/li>\n\n\n\n<li>Depreciation method used<\/li>\n\n\n\n<li>Useful lives or rates<\/li>\n\n\n\n<li>Reconciliation of carrying amount<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Common Exam Mistakes<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Starting depreciation from date of purchase instead of availability<\/li>\n\n\n\n<li>Capitalising routine repairs<\/li>\n\n\n\n<li>Forgetting residual value<\/li>\n\n\n\n<li>Wrong treatment of revaluation surplus<\/li>\n\n\n\n<li>Treating change in method as prior period item<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Exam Tip<\/h3>\n\n\n\n<p>If asked: \u201cExplain cost of PPE as per AS 10\u201d<\/p>\n\n\n\n<p>Write:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Definition<\/li>\n\n\n\n<li>Components included<\/li>\n\n\n\n<li>Components excluded<\/li>\n\n\n\n<li>Example<\/li>\n<\/ol>\n\n\n\n<p>This structure fetches full marks.<\/p>\n\n\n\n<p><strong>Motivational Note<\/strong><\/p>\n\n\n\n<p>\u201cFixed assets build businesses, but correct accounting builds trust.\u201d \u2013 <strong>CA Rohit Sethi<\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every business uses fixed assets like: If PPE is not accounted for properly: AS 10 lays down clear rules for recognition, measurement, depreciation, and disposal of Property, Plant and Equipment. Objective of AS 10 To prescribe the accounting treatment for PPE so that users can understand: Meaning of Property, Plant and Equipment (PPE) PPE are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,24],"tags":[],"class_list":["post-1161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-standard","category-ca-intermediate","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why AS 10 Matters in Advance Accounting - carohitsethi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why AS 10 Matters in Advance Accounting - carohitsethi\" \/>\n<meta property=\"og:description\" content=\"Every business uses fixed assets like: If PPE is not accounted for properly: AS 10 lays down clear rules for recognition, measurement, depreciation, and disposal of Property, Plant and Equipment. 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Objective of AS 10 To prescribe the accounting treatment for PPE so that users can understand: Meaning of Property, Plant and Equipment (PPE) PPE are [&hellip;]","og_url":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/","og_site_name":"carohitsethi","article_published_time":"2026-02-24T07:30:29+00:00","article_modified_time":"2026-02-24T07:30:30+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/carohitsethi.com\/wp-content\/uploads\/2026\/02\/Understanding-AS-9-Revenue-Recognition-\u2013-CA-Intermediate-1.webp","type":"image\/webp"}],"author":"carohitsethi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"carohitsethi","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/#article","isPartOf":{"@id":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/"},"author":{"name":"carohitsethi","@id":"https:\/\/carohitsethi.com\/#\/schema\/person\/61956f375067169f1563ec031414a727"},"headline":"Why AS 10 Matters in Advance Accounting","datePublished":"2026-02-24T07:30:29+00:00","dateModified":"2026-02-24T07:30:30+00:00","mainEntityOfPage":{"@id":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/"},"wordCount":471,"commentCount":0,"publisher":{"@id":"https:\/\/carohitsethi.com\/#organization"},"image":{"@id":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/#primaryimage"},"thumbnailUrl":"https:\/\/carohitsethi.com\/wp-content\/uploads\/2026\/02\/Understanding-AS-9-Revenue-Recognition-\u2013-CA-Intermediate-1.webp","articleSection":["Accounting Standard","CA Intermediate"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/","url":"https:\/\/carohitsethi.com\/index.php\/2026\/02\/24\/why-as-10-matters-in-advance-accounting\/","name":"Why AS 10 Matters in Advance Accounting - 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