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Antique piece

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Antique piece

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.
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  • December 1, 2012 at 12:48 pm #56012
    Ramish ali
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    IS Antique piece asset or expense, i was reading asset defenation and details 1-future economic benefits 2-value
    so Antique piece is part of decoration has value but no economic benifit is it a non current asset or part of expense

    December 1, 2012 at 7:07 pm #109370
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23352
    • ☆☆☆☆☆

    Well, it’s certainly not an expense! It’s going to be kept at the company’s registered office as part of the furniture, fixtures and fittings and they certainly are assets

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