How to Treat Fixed Assets in Early stage of Project
This query is : Resolved
10 November 2008
Dear Experts,
I am working in real estate sector we have purchased computer, AC, UPS & batteries, furniture for site office and construction has been started already in site.
Now I want to know how we can treat these fixed assets.
1. These are part of fixed assets in early stage of project.
Or
2. We have to put all these in capital work in progress and at the end of financial year we
Should provide a provision and put all this assets into fixed assets and have to provide Depreciation also.
Or
3. We must treat as fixed assets simply
Regards
Ravinder
I am working in real estate sector we have purchased computer, AC, UPS & batteries, furniture for site office and construction has been started already in site.
Now I want to know how we can treat these fixed assets.
1. These are part of fixed assets in early stage of project.
Or
2. We have to put all these in capital work in progress and at the end of financial year we
Should provide a provision and put all this assets into fixed assets and have to provide Depreciation also.
Or
3. We must treat as fixed assets simply
Regards
Ravinder
10 November 2008
They are fixed assets at early stage of project. They have to be provided depreciation from the date they are in use.
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