Treatment of carriage inward on purchase of fixed asset
This query is : Resolved
26 March 2018
Dear Sir,
How to treat carriage inward and other charges paid on purchase on fixed asset ?? for example Plant & machinery.
Should it be capitalised to fixed asset or charge to P&L a/c by one chance??
How to treat carriage inward and other charges paid on purchase on fixed asset ?? for example Plant & machinery.
Should it be capitalised to fixed asset or charge to P&L a/c by one chance??
27 March 2018
It should be capitalised. Initial delivering and handling cost are capitalized.
Reference: IAS 16 Para 16(b), Para 17
Reference: IAS 16 Para 16(b), Para 17
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