Is your personal house an asset ?

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53 Points Posted on 15 May 2020
Is your personal house an asset ?
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On 15 May 2020 at 08:31 Report
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Quick Summary
This discussion explores whether a personal house can be considered an asset. From an accounting perspective, it's an asset if you have sole control. Financially, it's often a 'waste asset' as it doesn't generate income unless rented or sold. However, capital appreciation means it's recognised as a capital asset.

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192 Points Posted on 15 May 2020
Yes. if registry is on ur own name
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On 15 May 2020 at 09:55
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182 Points Posted on 15 May 2020
From accounting perspective :- yes it would be an asset if only you have control over it (there can be joint control with family members)

From a financial perspective :- it would be a waste asset because it does not give you cash inflow unless you rent it or sell it
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On 15 May 2020 at 12:05
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Profession
28261 Points Posted on 19 May 2020
Harshali


Its revenue recognition.


House is an asset.
since there is capital appreciation it is termed as a capital asset.
1 Reply
On 19 May 2020 at 11:29

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