Capitalisation of fixed assets

sumit (Industrial Trainee at EY)   (366 Points)

30 March 2013  

My company bought a Car on 10 Oct 2012. But the user of car started using the Car only from 26 Oct 2012. Can you plzz tell me frm which date it is to be capitalised as it was ready to use on 10th but put to use on 26 Oct. 


Plzz highlight any provisions/case law for the same if possible


Thanks in advance