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As-10

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(Querist)
31 March 2012 Hi
I purchased a Fabricated steel structure for my plant and it was damaged during transportation to my site place, and for the same i paid a repairs expense for bringing the structure again in usable condition.So please advice what accounting treatment should be done with reapairs expense and the guiding rule or as para for the same.
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Pankaj Gandhi Jaiswal

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Pankaj Gandhi Jaiswal (Expert)
02 April 2012 Tricky question repair of assets before installation, in my view it should be capitalized because incurred before installation for bringing the asset in put to use
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crohitb

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crohitb (Querist)
07 April 2012 Sir, Actually thier is no clause for it in As10.So we are also going for Capatilisation As its before installation.
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