Capitalization of critical spares
This query is : Open
12 February 2013
Respected Sir,
Purchase of critical spares is kept as stand by spares. can it be capitalized, if so at what point of time it should be capitalized, whether at the time of purchase or that spares put in to use.
Pls provide me with Accounting Standard reference.
Kindly do the needful.
Purchase of critical spares is kept as stand by spares. can it be capitalized, if so at what point of time it should be capitalized, whether at the time of purchase or that spares put in to use.
Pls provide me with Accounting Standard reference.
Kindly do the needful.
13 February 2013
Refer ASI 2 Accounting for Machinery Spares.
14 February 2013
Sir,
Thank you for your early reply & valuable feedback.
Thank you for your early reply & valuable feedback.
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