Asset
This query is : Resolved
nilakantha
(Querist)
05 July 2012
I have purchased a vaccume cleaner and a coffee maker for office use, will they be shown under fixed asset???
CA BHARATH KUMAR
(Expert)
06 July 2012
yes its fixxed asset but first you determeine that whether an expense is an asset or not?
The expenses can only be capitalised in the following circumstances:
1. It must be related with the asset.
2. It must be essential to make the asset in working condition.
3. It must be above the capitalisation limit as per the prescribed policies.
The expenses can only be capitalised in the following circumstances:
1. It must be related with the asset.
2. It must be essential to make the asset in working condition.
3. It must be above the capitalisation limit as per the prescribed policies.
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