HI FRIENDS...
I HAVE A QUERY..
I WANT TO KNOW WHEN A COMPANY PURCHASE A VEHICLE AND GETS A INSURANCE3... PAID INSURANCE PREMIUM ON IT...IS IT NECESSARY TO CAPITALISE THAT INSURANCE...
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insurance of vehicle
Replies (4)
Insurance Premiums paid in respect of vehicles are recurring in nature. Such expenses are usually charged to Profits of the respective period in which they are incurred.
In my opinion, there can be no question of capitalising such expenditures.
thanks for reply...
actually in my opinion als it should not b capitalise
yea Insurance premium on Assests r not to be capitalised.
thanks for reply
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