Accounting Treatment
This query is : Resolved
28 June 2009
Hi,
1.How to identify an expenditure to be called as Capital or revenue expenditure?
2.I want to know the Accounting Treatment for Capital expenditure (in respect of a Product (Software)which is still not yet completed or other words, which is in Development stage as on March 31, 2009)and revenue expenditure in the books of accounts.
Thanks,
Gurmeet
1.How to identify an expenditure to be called as Capital or revenue expenditure?
2.I want to know the Accounting Treatment for Capital expenditure (in respect of a Product (Software)which is still not yet completed or other words, which is in Development stage as on March 31, 2009)and revenue expenditure in the books of accounts.
Thanks,
Gurmeet
28 June 2009
1, it will depend upon future benefits & purpose .
2. development stage's exp are to be treated as revenue exp- refer AS 26
2. development stage's exp are to be treated as revenue exp- refer AS 26
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