03 December 2017
Sir, Laptop battery,mouse etc purchased by a website development company... can we treat it as part of ASSETS or charged to P&L account as part of REPAIR&MAINTENANCE?
04 December 2017
In my opinion it shall be considered to be asset as these are required for development of website i.,e used for the purpose of generation of revenue and they shall be used for period of more than 12 months.
04 December 2017
Yes... I agreed to You Man.
But, In my view, It's replaced old one to new one then it's not considered asset.
In case it's purchasing a new full set of system's with mouse and keyboard then ll consider asset. Otherwise it's considered to Expenses...
Please give your opinion...!
04 December 2017
thanks...normally laptop battery has 2 or 3 years life...after that it is replaced...according to Mam,we can take it as part of ASSET...
06 December 2017
As per my opinion all the above should be treated as repair to assets as they are enhancing the life of the assets and should not b treated as Assets.
CAclubindia
