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fixed assets

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(Querist)
20 December 2008 we have purchased office Equipment & its supervision & service charges should be capitalised
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CS Vivek Hegde

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CS Vivek Hegde (Expert)
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
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
20 December 2008 Agree with the view of Mr.Ahuja.
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