should mobile phones be capitalised

Mobile phone shold be recorded in Revenue A/cs if purchase value is 5000/- or less.

It depends on the value of the subjected item.....!!!

If the value is 5000/- or  less then it will be charged to p&l A/C, if it is more than 5000/- the same will be capitalised...!!!

I agree with Faiz

Mobile phones should be capitalised irrespect of amount and Company size.However, if the purchase bill is in favour of employee,the amount should be shown under "Staff welfare" and hence written off.

In accordance with the provisions of copanies act (read with AS-10 & 6), if CoA of any asset exceed 5000.00, then it should be capitalized otherwise charge it to P/L A/c.

Thanks

Ya mobiles phone are to be capitalised only if it is exclusively used for the company use and are demanded back on completion of the work but if the same is given to the employee for the use of the company or are used semi officais and not to be demanded back  are not to be capitalised. Wherein such mobile phones are to be treated as perquisets given to the employee and can be booked under the head of  Emp. benifits.

It depends on the fact of each case. Among other factors such as ownership, whether mobile phone is to be return by employee if he resign or retire etc. materiality is very important factor. Remember accounting standards applies to material items only. What is material or not depend upon the case. If you have turnover and asset in crores of rupees would u consider 1 or 2 lakh to be material??? No. Hence depending upon situation you have to take decision.  

Thank You so much guys!!!....

Depend Upon the Case......

Our Auditor says if its value is > 5,000. it has to be capitalised & depreciation has to be provided every year.