shall we include painting material & painting exp. in Building ( fixed Assets )
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Paint material & painting exp.
Replies (6)
They should be debited to P&L. Painting of the building does not increase the life of the building, but it just seeks to show the building neat & tidy.
if it is during the construction of building then capitalise it and if it is for the rennovation afterwards then treat it as revenue expenditure and if it is just like the painting of big shooping complex which can effect the business performances then plz deffer the expenses of painting for useful years. hope you got it
Yes, NAYAN IS RIGHT
view point given by nayan is correct
| Originally posted by : nayan | ||
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if it is during the construction of building then capitalise it and if it is for the rennovation afterwards then treat it as revenue expenditure and if it is just like the painting of big shooping complex which can effect the business performances then plz deffer the expenses of painting for useful years. hope you got it |
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It's right...
On new building construction Capital nature therefore added in Building A/c & after that Revenue nature Repair & Maintenance / Renovation Expenses
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