Cost of fixed asset

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deepak (Querist)
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16 October 2014 what is the accounting treatment of travelling cost incurred by staffs to get land registered? capitalised or expensed?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 October 2014 To be expensed off.....

deepak

deepak (Querist)
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17 October 2014 Thankyou sanjay sir,
I have one more query if you could help,
which head should payment made to contractors for retention wall and compound wall of unfinished resort project debited? building wip or advance to contractor till we receive completed bldng, &if wip should cthis be on pc completion or based on actual payments made?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 October 2014 Should be debited to Capital Work In Progress. Once the work is completed and completion certificate is issued it will be capitalized.

deepak

deepak (Querist)
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18 October 2014 Thank you Sanjay Sir

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