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Fixed assets recognition

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Student
136 Points Posted on 18 March 2016
Is web cam purchase be form part of fixed assets?? web cam cost Rs.3900/-
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On 18 March 2016 at 17:25 Report
Replies (5)
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Article Assistant and Post Gradute
644 Points Posted on 18 March 2016

As per provision below Rs. 5,000 is to be expense out but web cam can be used for more than 1 years so we can either considered as fixed asset also or we can expenses out.

1 Reply
On 18 March 2016 at 17:28
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Consolidation and IndAS Application
1056 Points Posted on 18 March 2016

considering the materiality, 100% depreciation can be charged in the same year.

9 Reply
On 18 March 2016 at 17:41
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Managing Partner LNG & Associates
1839 Points Posted on 18 March 2016
The amount is not so material as far as Fixed assets recognition is concerned. It is better to write off the entire expense in the current year.
20 Reply
On 18 March 2016 at 20:46
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Chartered Accountant
86505 Points Posted on 18 March 2016
Webcam is used for more than 1 year so it can be considered as fixed assets. At the same time amount of it is less tthan 5000 so it can be expensed out. It depends on nature of your business or turnover that whether it is to capitalized or charge as revenue exp
814 Reply
On 18 March 2016 at 21:00
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Account Executive
30 Points Posted on 20 March 2016
It should be chared to revenue exp. in materiality concept & its a part of Personal Computer & it will not identify during physical verification after some year. Or It all about Company Policy.
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On 20 March 2016 at 05:31


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