Dear all,
I have confusion regarding capitalisation of expenses that whether it is necessary to book fixed assets as expenses first and then at the year end do rectification entry. If yes, what will happen if somebody have directly booked fixed assets and capital expense as they need to be intially itself . I have booked all fixed assets and their expenses directly to fixed assets and now company CA informed me to do yearly closely activity such as capitalise the expense. What should I do.
CAclubindia
