How way accounting treatment
This query is : Resolved
01 December 2013
how way treatment of electrical equipment very low price cost in balance sheet as capital items or stock under current assets.
CA Gaurav Mittal
(Expert)
02 December 2013
it depends on nature of use of the product.
i presume that electrical equipments are used as
1) Spare parts for main machinery :- have to be treated as stock under current assets.
2) as a fixed asset :- need to capitalized if put to use or if not den under work in progress
i presume that electrical equipments are used as
1) Spare parts for main machinery :- have to be treated as stock under current assets.
2) as a fixed asset :- need to capitalized if put to use or if not den under work in progress
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