Insurance cover taken on plant and machinery at the time of purchase of machinery to be capitalised or no? Insurance cover is taken by the buyer and not invoiced in the plant and machinery invoice.
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Insurance incurred on PandM, capitalised?
Replies (3)
dont capitalised
expenses incurred before the machine is put to use shall be capitalised
and related to insurance it is not one time payment u have renew it after some period of time so that
cant be capitalised treated as current expenses
dont capitalize..
as it does not enhances/increases the capability of the P&M
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