fixed assets
This query is : Resolved
20 December 2008
we have purchased office Equipment & its supervision & service charges should be capitalised
20 December 2008
What is your exact query..?
if i am right..u r asking whether u need to capitalise the supervision & service charges or not..
If the exp is one time it should be capitalised otherwise not.
usually it is a revenue exp should be debited to P&L A/c
rgds
Vivek
if i am right..u r asking whether u need to capitalise the supervision & service charges or not..
If the exp is one time it should be capitalised otherwise not.
usually it is a revenue exp should be debited to P&L A/c
rgds
Vivek
20 December 2008
Yes, all expenses incurred in connection with acquisition of a fixed asset and bringing that fixed asset to its presenet location and condition should be capitalised. In the given case charges paid for free supervision and service provided by the suppliers may be capitalised to the asset.
20 December 2008
Agree with the view of Mr.Ahuja.
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