Capitalization of travelling expense
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2013
A company was ordered a machine with some specifications to foreign supplier. An employee goes to the place of supplier for trial of the machine ordered. The query is that the travelling expenses related to above visit either capitalized or transferred to P&l A/c. Please give a reference of Accounting Standard also, if possible.
Amol S Joglekar
(Expert)
02 January 2013
Expenses in connection with the purchase of capital asset may be CAPITALISED. It will always prove to be a prudent policy. No reference of Accounting Standard is needed as such.
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