Capitalisation of fixed assets ( plant & machinery)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 My company Had Opening Block Value of Plant and Machinery Rs.88,22,564 we Purchased a Ups Rs 1750 it is capitalized or Not.
and also suggest me co. Act Provision Regarding Capitalization of F.Assets and Individual Assets.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

25 July 2012 According to Companies Act, if the asset value is less then Rs.5000/- it can be directly expense it off, but also it depends on the company accounting policy on Fixed assets, for control purpose you can capitalise as Fixed assets & take 100% depreciation.and show the nominal value of UPS in the books. it will give the control on the asset in books

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2012 thank Ramesh Sir

Upgrade to CAclubindia Pro. Subscribe Now!