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Bonagiri Dinesh   31 July 2021

Accounting treatment of following

Hi..

Im doing an accounting for Newly setup Crusher machine Business... My doubt regarding following items whether to expense or Capitalize.. if we need to capitalize.. under which head we need to do ??

1.Pipes and wires and cables
2.Doors and Glass doors and window frames
3.Hardware Items like iron rods and boults


 5 Replies

CMA Poornima Madhava

CMA Poornima Madhava (CMA)     31 July 2021

It would depend on the application of these materials. For instance, if these (s/n 1 & 3) are part of building infrastructure for your business, you may capitalize it else expense it.

S/n 2 can be capitalized as furniture & fixtures, if used in office/factory.

1 Like
Sourav

Sourav (Student)     31 July 2021

All of the items should be capitalised
1 Like
Nidhi

Nidhi (Chief Accountant)     31 July 2021

Can be capitalised under respective assets class
1 Like
Bonagiri Dinesh

Bonagiri Dinesh   31 July 2021

Thank you all
1 Like
Sourav

Sourav (Student)     31 July 2021

Your welcome
1 Like

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