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Capitalisation of assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2012 Dear All,

In our company we have purchase a New Vehicle and it is insuranced.

My Question is Insuranced amt can we capitalist or what?

which are the cost, can we capitazed while purchasing a new assets?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 February 2012 First time premium paid while purchase of fixed asset need to be capitalised, further renewal premium will be debited as revenue expenses
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