Renovation and decoration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2013
dear experts
1.if done renovation decoration to building. For this type account how can we treat Either exp Or asset(renovation & decoration)
2. it should added to building value or capital value (please give me the detailed notes on this regard)
1.if done renovation decoration to building. For this type account how can we treat Either exp Or asset(renovation & decoration)
2. it should added to building value or capital value (please give me the detailed notes on this regard)
CA DHANANJAI KUMAR
(Expert)
10 November 2013
If the renovation is going to give future benefits, which is more than than the previously assessed benefit then those expenses should be capitalised. If it is not giving any future benefits then it need not be capitalised. If you want you can even check AS 10. So while considering the for capitalisation of renovation expenses consider whether the above remuneration is going to give future economic benefit more than the previous assesesed benefit of the building
CA DHANANJAI KUMAR
(Expert)
10 November 2013
Not remuneration its renovation. Sorry for typing mistake.
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