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Capitalization of critical spares

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(Querist)
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.
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
13 February 2013 Refer ASI 2 Accounting for Machinery Spares.
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Ravichandra

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Ravichandra (Querist)
14 February 2013 Sir,

Thank you for your early reply & valuable feedback.
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