Construction Related
This query is : Resolved
26 November 2019
What is the accounting treatment for Site office building constructed at construction site, which will be demolished after completion of the project?
Whether it needs to be capitalized as Fixed Asset or debited to project cost?
Whether it needs to be capitalized as Fixed Asset or debited to project cost?
26 November 2019
Hello Krupali, if your project exceeds one accounting year, you may write it off proportionally, otherwise take it as a project cost.
Also, in case the set up can be reused, you should account it as a fixed asset.
Also, in case the set up can be reused, you should account it as a fixed asset.
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