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Accounting standard

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(Querist)
28 August 2008 When machinery spares which is used in connection with an item of asset and its use is irregular should it be charged to P/L ?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
28 August 2008 You have not mentioned at what point of time.
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Arun

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Arun (Expert)
28 August 2008 It Depends on the Following

1. whether it enhances the Life time of the asset , if yes then Capitalise otherwise charge to P&L.

2. Value of the Spare is significant capitalise otherwise charge to P&L
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 September 2008 THey can be charged to P&L as and when they are issued within the life time of machinery

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