Capitalization of sports equipments
Anmol Singh Arora (Accounts Audit & Tax Assistant) (49 Points)
30 December 2016Anmol Singh Arora (Accounts Audit & Tax Assistant) (49 Points)
30 December 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 31 December 2016
Generally, replaceble goods with smaller life span like ball, football etc are accounted as revenue expenditure, while nets, poles etc if costing more than 5000/- Rs. are capitallized and depreciated at 15%.
Anjalii
(manager)
(22 Points)
Replied 06 July 2023
The useful life of sports equipment should be estimated to determine the depreciation period. This is the period over which the cost of the equipment will be allocated as an expense to match its usage and decrease in value over time. Progress evaluations on a regular basis can monitor their progress throughout the triathlon training program. Adjust the plan to regularly evaluate the progress.
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