WEHAVE PURCHASE SOME LAB EQUIPMETS FOR OUR FACTORY OUTLET. PLEASE TELL US THE TREATMENT FOR LAB EQUIPMENTS. ARE THESE TREATED AS FIXED ASSET OR AS INDIRECT EXPENSE?? PLS REPLY
2 Replies
A.Kishore Kesav
(810 Points)
Replied 28 March 2018
If such lab equipments are used purposefully for the production/manufacturing of any product/outlet...and without such equipment...if u can't manufacture/produce Ur outlet...then it can be treated as asset of the company...
No way it can be treated as indirect expense..
No way it can be treated as indirect expense..
satish
(teaching)
(2046 Points)
Replied 28 March 2018
if lab equipment satisfies the definition of asset under AS 10 Properties, plant and equipment, then it can be treated as fixed asset.
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