I just wanted to know the accounting treatment of Asset under Construction
Like how to recognize Amount "Paid to Electric Contractor"?
Should i recognize Expenses on "Asset under Construction" as an Expense or Show as an Asset (as WIP)????
HIMANSHU GUPTA (Sr. Accounts Executive) (97 Points)
18 November 2016I just wanted to know the accounting treatment of Asset under Construction
Like how to recognize Amount "Paid to Electric Contractor"?
Should i recognize Expenses on "Asset under Construction" as an Expense or Show as an Asset (as WIP)????
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 18 November 2016
HIMANSHU GUPTA
(Sr. Accounts Executive)
(97 Points)
Replied 18 November 2016
Mr. Khanna Thanks for your response...
My question is, Should i capitalize these expenses from the very begining ?? where can i get the text pertaining to this.....
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 18 November 2016
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