AS 2 Inventories: cost and net realisable value

Assets Based Accounting Standards

CA Intermediate · Paper 1
This syllabus version: May 2026. Choose your attempt in the tracker

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4 videos
3 teachers
Length 62–716 min
1 practice scenario

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4 teachers' videos for this topic. You only need one. Nobody at YUNOVA has watched them yet; they were found by title, channel and length.

CA Inter by CA Vipul Dhall
AS 2, 10, 13 , 16 , 19 , 26 , 28 Revision + Important Questions | CA Inter Advanced Accounting
- 272 min video
- Suggested first
- Not reviewed yet
CA Intermediate by PW
Advanced Accounting Super Revision Marathon 🔥Part-3 | CA Inter Preparation | CA Nitin Goel
- 648 min video
- Not reviewed yet
CA Aakash Kandoi
AS 16 Borrowing Cost Revision | With Questions | CA Inter | Advanced Accounting | CA Aakash Kandoi
- 61 min video
- Not reviewed yet
CA Intermediate by PW
CA Inter Advanced Accounting Marathon (Part 1) 🔥🔥 | CA Inter 2026 Attempt | CA Nitin Goel Sir
- 715 min video
- Not reviewed yet

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by CA Inter by CA Vipul Dhall · Not reviewed yet · Watch on YouTube · Report this video

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Next topic: AS 10 PPE: recognition and initial measurement

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Scenario 1 of 1 · Chapter 5: Assets Based Accounting Standards

Scenario on Assets Based Accounting Standards

Vayu Power Limited (VPL), an Indian manufacturing entity, engaged in several transactions during the financial year 2024-25. On 1st April 2024, VPL acquired a specialized turbine for its manufacturing plant for ₹50,000,000 (excluding recoverable GST of ₹9,000,000). VPL incurred import duties of ₹5,000,000 (non-refundable), site preparation costs of ₹2,000,000, and initial operating losses of ₹1,500,000 before the turbine reached its intended operational performance. The turbine was ready for its intended use on 1st July 2024, with an estimated useful life of 10 years and nil residual value. VPL depreciates plant and equipment using the straight-line method. On 1st October 2024, VPL commenced construction of a qualifying asset (a new processing facility). To finance this, VPL obtained a specific bank loan of ₹20,000,000 at 10% per annum on 1st October 2024. Pending expenditure, ₹8,000,000 out of the unutilized loan proceeds was invested in short-term deposit receipts for 3 months (from 1st October 2024 to 31st December 2024), earning interest income at 6% per annum. Active construction work continued without interruption from 1st October 2024 through 31st March 2025.

1 / 4
In accordance with AS 10 (Property, Plant and Equipment), what is the initial cost at which the specialized turbine should be capitalized on 1st April 2024?
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2 / 4
What is the depreciation expense on the specialized turbine to be recognized in the Statement of Profit and Loss for the year ended 31st March 2025 as per AS 10?
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3 / 4
In accordance with AS 16 (Borrowing Costs), what is the amount of borrowing costs to be capitalized as part of the cost of the qualifying facility for the financial year ended 31st March 2025?
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4 / 4
Which of the following items incurred during the installation and setup of the turbine must be charged directly to the Statement of Profit and Loss rather than capitalized under AS 10?
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