insurance in acquisition of new computer?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
:? If on acquisition of item (fixed asset),all expenses (transport,delivery,insurance of transport)should be included on cost of asset .Should i also include the expense of insurance for 1year (garanty on vaio computers)was cost of asset or open a insurance account :?: :?:

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:insurance in acquisition of new computer?

    Hi,

    Just asked my Accountant who advises that you would write the insurance to the insurance a/c much the same as you would write the car tax element of a car off to expenses.

    Hope this helps

    Violet

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