Our Recommendations :-
Follow CA CPT | CA Foundation FB Page

what is self generated asset

Open uri20170510 32134 9p7be3?1494421783 rashmi asked about 3 years ago

wt is self generated asset.

    0       0 Answer Now Comment Report
6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered almost 3 years ago

Self-generating and regenerating assets (SGARAs) is just a fancy accounting term for "non-human-related living assets". That is, these are things that an accounting entity may own that are used to derive future economic benefits, but are living things.

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered almost 3 years ago

-An asset, which does not cost anything to the assesses in terms of money in its creation or acquisition, is a self generated asset the cost would include direct costs such as materials and labor associated with its construction.Determining the cost of an asset that is self-constructed is more difficult than one that is purchased directly from a vendor or supplier. - Without a written agreement as to the purchase price or a contract, the company must allocate cost to the construction of the asset. -Self-generating and regenerating assets is just a fancy accounting term for "non-human-related living assets". That is, these are things that an accounting entity may own that are used to derive future economic benefits, but are living things. These would include trees in a plantation, or cows in a field. The distinguishing feature of Self-generating and regenerating assets is their "natural ability to grow and/or procreate"

    0       0 Comment Report
Open uri20170510 32134 1nqu8aj?1494421649 sowmya answered about 3 years ago

Hii An asset, which does not cost anything to the assesses in terms of money in its creation or acquisition, Is a self generated asset the cost would include direct costs such as materials and labor associated with its construction.Determining the cost of an asset that is self-constructed is more difficult than one that is purchased directly from a vendor or supplier. Without a written agreement as to the purchase price or a contract, the company must allocate cost to the construction of the asset

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 3 years ago

**SELF GENERATING ASSETS** Self-generating and regenerating assets (SGARAs) is just a fancy accounting term for "non-human-related living assets". That is, these are things that an accounting entity may own that are used to derive future economic benefits, but are living things. These would include trees in a plantation, or cows in a field. The distinguishing feature of SGARAs is their "natural ability to grow and/or procreate" Thanks

    1       0 Comment Report
Data?1494421730 rohit awasthi answered about 3 years ago

Hello "Self Generated Asset" Self generated Asset- A asset that is self generated by Company or firm. A company can generate both tangible and intangible asset self. some self generated asset recognize in B/S and some not recognize. Expense direct related to self generated Dr in asset account and borrowing cost also dr in this a/c.

    3       0 Comment Report
Picsjoin 2017224123730582 Archana answered about 3 years ago

Hie Rashmi, **Self Generated Assets can be explained as follows :-** The financial accounting term self-generated assets refer to those built by the company and appearing on its balance sheet. The cost of self-generated assets would include direct costs such as materials and labor associated with its construction. Companies can optionally allocate a portion of indirect costs to the asset too.

    1       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.