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Fixed assets

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(Querist)
16 September 2011 Hi,

I am conducting the audit of a hospital. With regard to the same pls tell me whether the instruments used in the hospital should be capitalised or charged to revenue a/c

Priyanka
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CA Divyesh Sodha

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CA Divyesh Sodha (Expert)
16 September 2011 Such items should be charged to revenue as they are required to be replaced after certain uses.
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Priyanka

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Priyanka (Querist)
16 September 2011 sometimes some of the instruments lasts for years and sometimes they dont... what should be the criteria in that case???
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CA Divyesh Sodha

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CA Divyesh Sodha (Expert)
16 September 2011 generally the instruments used as weapons for operations should be charged to revenue directly. There is no such specific criteria but considering the said items as heling tools we may charged directly to revenue. However if some items of which life is long enough it may be capilised.
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