Asset capitalisation
Nagarajan (Senior. Accountant) (30 Points)
29 March 2016
Should the Renovation work expenses to be capitalised in the existing building asset.
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 30 March 2016
As per AS - 10 Accounting for Fixed Assets, Whenever there is Improvement or Repairs in an existing asset then such amount of improvement or repairs should be capitalised to the existing assets only if
the Improvement or Repair would results in enchanced performance or Useful life then that was before such improvement or repair.
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