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Asset capitalisation
Should the Renovation work expenses to be capitalised in the existing building asset.
Replies (1)
As per AS - 10 Accounting for Fixed Assets, Whenever there is Improvement or Repairs in an existing asset then such amount of improvement or repairs should be capitalised to the existing assets only if
the Improvement or Repair would results in enchanced performance or Useful life then that was before such improvement or repair.
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