Nikhil (CA. CS.) (62 Points)
05 October 2012Dear all,
Accounting standard allows capitalisation of bank charges directly attributable to FA. However, Is there any notification by mca or by clb that prevents capitalisation of bank charges or lc charges incurred for acquiring fixed assets?
Please help guys!
thanks a ton!
nikhil
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 05 October 2012
AS - 10 Says That Any Cost Attributable to Acquire That Fixed Asset, Should be Capitalized.
Kindly Refr AS - 16 Also.
CAclubindia
