Section 64 in The Andhra Pradesh Municipalities (Preparation of Accounts) Rules, 2017
64. Valuation of fixed assets.
(1)All fixed assets shall be carried at cost less accumulated depreciation, as specified in A.P. Municipal Asset Valuation Methodology Manual (APMAVMM).(2)The cost of fixed asset shall include cost incurred/money spent in constructing, installing or acquiring the fixed asset, interest on borrowings and other incidental or indirect expenses incurred up to the month of commissioning of the asset.(3)In case a fixed asset is acquired at concessional rate, the concessional rate shall be recorded as the cost of acquisition.(4)In case a fixed asset is donated or gifted, the cost shall be recorded at a nominal value of rupee one.
