Accounting treatment for interior decoration expenses

This query is : Resolved 
Quick Summary
Interior decoration expenses are usually treated as revenue expenses and charged to profit and loss. If they create assets with useful life like furniture or fixtures, they should be capitalized and depreciated.

Profile Image

Profile Image

(Querist)
25 February 2015 Should interior decoration expenses incurred for office be written off wholly as expenses in the year the expenses are incurred
or should be capitalized and depreciated and if depreciated under which block should they fall
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
25 February 2015 yes transfer it to profit and loss a/c as it does not increase the life of asset except its a heavy repairing done.
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
25 February 2015 ANY FURNITURE OR EQUIPMENT HAVE LIFE THEN YOU CLAIM DEPRECIATION AND OTHER THAN ABOVE DEBIT TO EXP A/C.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Vinay GroverVinay GroverPro Member SURESH KRISHNASAMYSURESH KRISHNASAMYPro Member P.S.HarishankarP.S.HarishankarPro Member N N V SatishN N V SatishPro Member CA.Pinank Arvindbhai ShahCA.Pinank Arvindbhai Shah
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category