03 October 2008
If underlying asset or enduring benefit is not there in an expenditure the same has to be written off. If an enduring asset results the period of enduring has to be explained satisfactorily.
03 October 2008
When you develop a website an asset in the form of software is created. It has enduring benifits. The realisable value one own site may not necessarily be NIL as it will depend upon the usability of the Site. Therefore I think the website development should be capitalised as software.
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