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What is the accounting treatment for the one year maintenance expenses related to construction project X completed in prior year in the current year.

External Audit
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Question added by Taqieldeen Elhag , Finance Manager , Adex for Contracting, Maintenance and Operation
Date Posted: 2013/09/18
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Sajid Hameed - ACA
by Sajid Hameed - ACA , Chief Financial Officer / Acting Chief Operations Officer , EPC (Tamimi Group Company)

didnt get your question,

are you talking about maintenence expense of a construction project, after its completion?

if yes, its shoud be expensed out.

 

if project is still in construction stage it will become part of asset.

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