Please use this identifier to cite or link to this item: http://repository.kln.ac.lk/handle/123456789/12207
Title: Quarry is an Inventory or PPE?
Authors: Chanaka, H.A.D.
Thilakarathne, P.M.C.
Issue Date: 2016
Publisher: Department of Accountancy, University of Kelaniya
Citation: Chanaka, H.A.D. & Thilakarathne, P.M.C. 2016. Quarry is an Inventory or PPE?. Case Studies in Accounting “Bridging the Gap”, 03: pp. 95-96. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.
Abstract: PQR Construction (Private) Limited (“Company”) is a limited liability company incorporated and domiciled in Sri Lanka. During the year, the principal activities of the Company were undertaking construction contracts. Mainly they construct the roads & water projects. Year ended 31/03/2015 PQR LTD purchased a land which includes Quarry and that Quarry has been recognized as an inventory in their accounts. But according to the LKAS 16 (Property, Plant & Equipment) it should be recognized as a Property, Plant & Equipment.
URI: http://repository.kln.ac.lk/handle/123456789/12207
Appears in Collections:Volume 03 - 2016

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