Capitalization of assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 May 2012
Dear Experts
What is the basic criteria for capitalization of assets?
What is the basic criteria for capitalization of assets?
13 May 2012
The asset shall be capitalised in the books if, and only if:-
(a)it is probable that future economic benefits associated with the item will
flow to the entity; and
(b)the cost of the item can be measured reliably.
Thanks.
(a)it is probable that future economic benefits associated with the item will
flow to the entity; and
(b)the cost of the item can be measured reliably.
Thanks.
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