Accounting standard
This query is : Resolved
CA supriyo saha
(Querist)
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 ?
S.Srinivasaraghavan
(Expert)
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
S.Srinivasaraghavan
(Expert)
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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