Save Rs 499 on a 2-Year Ad-Free Pro Membership. Subscribe Now!

banner_ad

Whether utensils are considered as an fixed asset in a hotel

This query is : Resolved

Share Report Follow Query Ask a Query

CHIRAG WADHWA

CHIRAG WADHWA (Querist)
Follow

23 November 2011 Please answer my query ASAP.

whether Utensils are considered as an fixed asset in an hotel industry?

CA. RICHI SAXENA

CA. RICHI SAXENA (Expert)
Follow

25 November 2011 Hi chirag. The answer to your qquestion is no. Actually utensils are consumables which cannot be carried forward in the balancesheet. The life of utensils used in a hotel can be taken as not exceeding one year and as such depreciating such items will not be coinsidered suitable according to accounting standards.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member SHUBHANGI GOEL

SHUBHANGI GOEL

Pro Member Akash Sawant

Akash Sawant

Pro Member Arpita Sharma

Arpita Sharma

Pro Member CA.Pinank Arvindbhai Shah

CA.Pinank Arvindbhai Shah

Pro Member Ajinkya Deshpande

Ajinkya Deshpande

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

27 May 2026

Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details

21 May 2026

Associate

PWC

Kolkata

CA

View Details

14 May 2026

Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details

14 May 2026

Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details

14 May 2026

ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details

Featured 27 May 2026

Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details

03 May 2026

Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details

ARTICLESHIP 15 May 2026

ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details