WEHAVE PURCHASE SOME LAB EQUIPMETS FOR OUR FACTORY OUTLET. PLEASE TELL US THE TREATMENT FOR LAB EQUIPMENTS. ARE THESE TREATED AS FIXED ASSET OR AS INDIRECT EXPENSE?? PLS REPLY
ACCOUNTS AUTOSTAR (2 Points)
28 March 2018WEHAVE PURCHASE SOME LAB EQUIPMETS FOR OUR FACTORY OUTLET. PLEASE TELL US THE TREATMENT FOR LAB EQUIPMENTS. ARE THESE TREATED AS FIXED ASSET OR AS INDIRECT EXPENSE?? PLS REPLY
A.Kishore Kesav
(808 Points)
Replied 28 March 2018
satish
(teaching)
(2046 Points)
Replied 28 March 2018
if lab equipment satisfies the definition of asset under AS 10 Properties, plant and equipment, then it can be treated as fixed asset.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
CAclubindia
