Fixed Asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2011
GPS System Insatalled in Truck So whether it is Capitalized in Truck or should be Stand as an Independent in the Name of GPS System A/c Ples reply fast.
CA PARAS BAFNA
(Expert)
21 July 2011
GPS system is installed and can be separated from Truck. It can be installed in another truck or the truck can be used for another purpose if the GPS is uninstalled from it.
It has got different identity from the truck.
It should be separately shown from the truck looking to the nature of asset and falling in different block of asset.
It has got different identity from the truck.
It should be separately shown from the truck looking to the nature of asset and falling in different block of asset.
21 July 2011
GPS shall be considered as a different block of assets. Because, it can be un-installed from the truck and installed in some different truck or say any other vehicle. So it should not be clubbed in truck.
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