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Answer Posted / e.sunil kumar reddy
Classifing the asset in organisation as per particular
country legal requirements.
for eg:
land
buildings
vehicles
etc
This is also sub ledger.sub asset means
for eg:
repairs a/c dr
vehicals a/c dr
to . bank a/c
assets accounting is based on 4 rules:
1.sub assets master is to be created with reference to the
main assets master.
2.main assets master is to be created with assets class.
3.account determination is to specified inasset class.
4.For account determination we assign G/L acount based on
nature of transation.
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