capital or revenue expenditure
This query is : Resolved
27 April 2009
What precautions are to be taken when defining capital or revenue expenditure?
and please also suggest how to prove it ?
and please also suggest how to prove it ?
27 April 2009
Dear It all depends whether you want to prove an expenditure as capital or revenue please clarify.
28 April 2009
An expenditure qualifies to be of capital nature when the benefits of the same occur in long term at least in more than one year. Of course the expenses should not pertain to the traded activity.
All expenses yielding the benefit in the same year are under Revenue. All trade related exp come under this.
See this links for more
http://www.allbusiness.com/accounting/methods-standards/633155-1.html
http://blog.accountingcoach.com/capital-expenditure-revenue-expenditure/
For more clarifications mail me at srini.ca@gmail.com
All expenses yielding the benefit in the same year are under Revenue. All trade related exp come under this.
See this links for more
http://www.allbusiness.com/accounting/methods-standards/633155-1.html
http://blog.accountingcoach.com/capital-expenditure-revenue-expenditure/
For more clarifications mail me at srini.ca@gmail.com
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