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The objective of AS 10,?Property, Plant and Equipment, is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about investments made by an enterprise in its property, plant and equipment and the changes in such investment. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them. This Standard does not apply to biological assets related to agricultural activity other than bearer plants and wasting assets including mineral rights, expenditure on the exploration for and extraction of minerals, oil, natural gas and similar non-regenerative resources.
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This document is prepared in with the help of "Accounting Standards (AS): Disclosures Checklist (Revised October 2022)", issued by ICAI.
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