Fixed Assets

Selfie Stick purchased by construction company for their business.

It should treated as fixed asset or expense?.
Replies (3)
Quick Summary
This discussion explores whether a selfie stick purchased by a construction company should be classified as a fixed asset or an expense. While some suggest it can be a fixed asset, the consensus leans towards treating it as an expense, especially if its value is low. The key consideration is whether the item generates future economic benefits for the company, as per accounting standards.

It should be treated as expense.

Originally posted by : Vikas Chauhan
Selfie Stick purchased by construction company for their business.It should treated as fixed asset or expense?.

 

Yes You can book it under FA. But., If value is lesser then Better to account in PandL as per Mr Kumar Sushank view.

In my opinion ,for treating any item as fixed assets as per AS10PPE,the item must generate future economic benefits into the company ,so the selfy stick may not generate any kind of inflow to the organisation ,so it better to treat it as expense

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