Capitalize or CWIP
This query is : Resolved
28 November 2008
dear exxperts,
we have purchased a microwave and some fans for our site office (Construction House) now question is we should capitalize this items in plant & machinery or treat as capital work in progress-Site exp and then capitalize its end of the financial year.
please guide me
we have purchased a microwave and some fans for our site office (Construction House) now question is we should capitalize this items in plant & machinery or treat as capital work in progress-Site exp and then capitalize its end of the financial year.
please guide me
28 November 2008
it should be capitalized if it can be effectively utilized without the building itself. If its utilization depends on completion of construction then its a WIP
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