Treatment for exps incurred for sample flats by developer
This query is : Resolved
12 February 2020
what is accounting treatment for expenses incurred in construction of sample flats by developer.
Following are the heads of exps
1. Labour charges
2. Furniture & Fittings
3. Cement Steel and other Material.
whether this exps should be capitalized or exps out.if capitalised under which head.
Following are the heads of exps
1. Labour charges
2. Furniture & Fittings
3. Cement Steel and other Material.
whether this exps should be capitalized or exps out.if capitalised under which head.
CA R SEETHARAMAN
(Expert)
12 February 2020
Capitalize furniture and fittings which can be used/sold later. Expense it labour charges and material used.
If sample flats can be sold later capitalize it.
If sample flats can be sold later capitalize it.
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