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Shiva Ltd has obtained an institutional loan of ?60 Crores for machinery on 01.06.2016.The machinery installed on 1st February, 2017 with cost of ?52 Crores and balance loan has been utilized for working capital. Interest on above loan is @ 11% per annum. As per AS-16 the amount of interest to be capitalized for the year ended 31st March, 2017 will be

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The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%


Shiva Ltd has obtained an institutional loan of ?60 Crores for machinery on 01.06.2016.The machinery installed on 1st February, 2017 with cost of ?52 Crores and balance loan has been utilized for working capital. Interest on above loan is @ 11% per annum. As per AS-16 the amount of interest to be capitalized for the year ended 31st March, 2017 will be






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