15 October 2007
It is a School, which is doing services in the LEASED BUILDING and PLAY GROUND for 99 Years. They repaired the play ground with RS.200000/-. What will be the Accounting Treatment for this.
The Expense is CAPITAL or REVENUE. Shall U Clarify me...
16 October 2007
It is a capital expenditure as the lease period is substantial and hence u'll have to capitalise it. if the lease term was less than 11 yrs then you should cahrge it off to the P&L A/c
CAclubindia
