Capital work in progress
This query is : Resolved
17 March 2009
Thanks for reply
This project going to be a sep. legal entity in that case same rules apply?
We have started one project and all expenses related to that project am debiting capital WIP.Now we have purchased a vehicle exclusively using this project. I have doubt whether i accounted as fixed assets or as capital WIP
Kindly clarify the doubt
Thanks in Advance
Jagadish
This project going to be a sep. legal entity in that case same rules apply?
We have started one project and all expenses related to that project am debiting capital WIP.Now we have purchased a vehicle exclusively using this project. I have doubt whether i accounted as fixed assets or as capital WIP
Kindly clarify the doubt
Thanks in Advance
Jagadish
17 March 2009
Dear Jagadish,
It has to be considered as Fixed Asset.
and not as capital work in progress. As the asset purchased is ready to use. The same u can add to the Project if at later stage vehicle is going to be used exclusively for project after comletion of the same.
It has to be considered as Fixed Asset.
and not as capital work in progress. As the asset purchased is ready to use. The same u can add to the Project if at later stage vehicle is going to be used exclusively for project after comletion of the same.
18 March 2009
i agree with the expert
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