Hello, First of all I convey my heartly thanks to everyone who give reply to this. I have some questions regarding capitalised of fixed assets.
1) Already building was built. Now they spent some amount for gardening and front gate.
2)Tables and pertions was installed in office.
3)Fixing electro magnetic flow meters for sewer lines.
4)Fixing scroll compressor for A/c.
5)Fixing silencer in Diesel generator.
6)Telephone bought.
In all the above cases we can treat it as capital or revenue expenses and under what we should account it (ie. in fixed assets telephone can come under office equipments or other fixed assets) Reply soon. I have lot of confusion on it. I was clear with AS 10 still i got confused in these things.
CAclubindia
