Interest on fixed assets before put to use
This query is : Resolved
20 January 2023
interest on fixed assets before put to use , whether cost should be added to fixed assets.
CA R SEETHARAMAN
(Expert)
20 January 2023
Yes, it's to be added to cost of fixed assets in case it's normal to incur such interest.
All abnormal interest has to be charged to revenue as per accounting standards.
All abnormal interest has to be charged to revenue as per accounting standards.
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