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initial cost of fixed asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › initial cost of fixed asset

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
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  • December 7, 2017 at 8:16 am #421414
    eskindir
    Member
    • Topics: 5
    • Replies: 3
    • ☆

    Dear sir
    what i want to ask is after buying a fixed asset while testing a (at installation process)if a product is produced and sold is it going to be treated as P&L income or treated as a deduction from initial cost of the asset?

    December 7, 2017 at 9:21 am #421447
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Well, I believe that I answered that having guessed that that was your question

    However … think about the practicalities of the hypothetical scenario that you’ve envisaged. Any organisation that is trying to develop a new product is highly unlikely to want to sell those prototypes that they produce during the development stage

    OK?

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Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘initial cost of fixed asset’ is closed to new replies.

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