Cost of fixed asset
This query is : Resolved
16 October 2014
what is the accounting treatment of travelling cost incurred by staffs to get land registered? capitalised or expensed?
17 October 2014
To be expensed off.....
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?
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?
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.
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