Lab Equipments are considered as Assets or expenses
Mahesha E9 (12 Points)
16 July 2018can we treat those items as asset?
Mahesha E9 (12 Points)
16 July 2018
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 16 July 2018
Pawan Sehrawat
(Partner)
(91 Points)
Replied 16 July 2018
If lab equipments given benefit for period more than a year. It should be classified. This is as per accounting standard on assets.
Chiranjeevi Dasi
(2 Points)
Replied 26 October 2023
Is Lab Equipments Comes under which head like Equipment & tools or if any. please
SUSHANT
(student)
(29 Points)
Replied 21 October 2024
Like below heads
Furnitures & Fixtures |
Computer Equipments |
Intangible Assets |
Leasehold improvements |
Plant & Machineries |
Vehicles |
you can create "Lab Equipement" for better understanding, classification & identification.