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Fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 December 2012 Sir, I want to ask you that whether pen drive, mouse & mouse paid purchases with computer can be considered as a fixed assets or not.
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CA Nischal Agrawal

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CA Nischal Agrawal (Expert)
21 December 2012 These items are of small value. They do not add significantly to the life of the asset. They are prone to wear and tear more often and generally require replacement within a year.

Moreover your fixed asset register will become clustered with these small items if you start recording them as fixed assets.
Such small value items should be booked as expenses (Debit to Profit & Loss)
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 December 2012 thanks sir
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