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Describe the factors that determine whether expenditure relating to property, plant and equipment already in use...

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Accounting

  1. Describe the factors that determine whether expenditurerelating to property, plant and equipment already in use should becapitalized.
  1. Describe how to account for the gain or loss on the sale ofproperty, plant and equipment.

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4.4 Ratings (778 Votes)
1 the expeniture relating to an item of property plant and equipment already in use shall be recognized as an asset if and only if It is probable that future economic benefits associated with the expenditure item will flow to the entity and The cost of the item can be measured reliably In nutshell if an expenditure is a capital expenditure and if above    See Answer
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