Accounting standard
This query is : Resolved
28 August 2008
When machinery spares which is used in connection with an item of asset and its use is irregular should it be charged to P/L ?
28 August 2008
You have not mentioned at what point of time.
28 August 2008
It Depends on the Following
1. whether it enhances the Life time of the asset , if yes then Capitalise otherwise charge to P&L.
2. Value of the Spare is significant capitalise otherwise charge to P&L
1. whether it enhances the Life time of the asset , if yes then Capitalise otherwise charge to P&L.
2. Value of the Spare is significant capitalise otherwise charge to P&L
30 September 2008
THey can be charged to P&L as and when they are issued within the life time of machinery
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