Capitalisation of insurance amount on mobile phone

shibsankar (Asst. Manager - Accountants)   (119 Points)

24 April 2017  

HI Everyone,

Our company purchased a mobile phone for our Managing director. Since Its a company property, we capitalised the same in our books of accounts.

My Query is, Do we need to capitalise the insurance amount also?

Thanks in advance.

Shib