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Civil work is treated as an asset because it represents a long-term investment in infrastructure that provides economic benefits over time. These projects, such as roads, bridges, and buildings, enhance connectivity and productivity, thereby contributing to overall economic growth. Additionally, civil works often have a useful life that extends for many years, justifying their classification as assets on balance sheets. This treatment reflects their value in generating future economic returns and supporting community development.
What else can I help you with?
How do you treat a purchase of a new component of a fixed asset?
As per IAS 16: If purchase of component of fixed asset is major part of original asset or purchase of component increase the effectiveness or live of asset then it is treated as a part of original price and treated as asset. If purchase of component is routine purchase for small repair etc then it is treated as revenue expense.
Is goodwill tangible asset?
goodwill must be treated as tangible asset because it holds great value for the company. but analysts treat as an intangible asset .
How are investments treated in the balance sheet?
It's treated as part of the non-current asset. Because future economic benefits are expected to flow to the related entities, therefore it's an asset.
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
How rent paid in advance is treated in accounting equation?
If you are the payer Increase in Prepaid Expenditure- Asset Decrease in Bank - Asset Equity= Asset- Liabilities 0 = +/- - 0 If you are the payee Increase in Income Recieved in Advance - Liability Increase in Bank - Asset Equity= Asset- Liabilities 0 = + - +
How should savings be treated as another type of financial asset?
Savings should be treated as a financial asset because they represent money that can be used for future investments or emergencies. By viewing savings as an asset, individuals can better manage their finances and work towards achieving their financial goals.
How do you treat a purchase of a new component of a fixed asset?
As per IAS 16: If purchase of component of fixed asset is major part of original asset or purchase of component increase the effectiveness or live of asset then it is treated as a part of original price and treated as asset. If purchase of component is routine purchase for small repair etc then it is treated as revenue expense.
Is share asset or liability?
Share is treated as liability. It is not treated as asset. shares is called as share capital. capital is entered in the liabilities side of the balance sheet.
Is goodwill a tangible asset?
goodwill must be treated as tangible asset because it holds great value for the company. but analysts treat as an intangible asset .
Is goodwill tangible asset?
goodwill must be treated as tangible asset because it holds great value for the company. but analysts treat as an intangible asset .
How are investments treated in the balance sheet?
It's treated as part of the non-current asset. Because future economic benefits are expected to flow to the related entities, therefore it's an asset.
How were American Indians treated after the civil war?
they were treated poorly
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
Would a credit entry to the accounts receivable ledger account would make the balance?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
How were slaves in the south treated during the civil war?
they were treated bad
How rent paid in advance is treated in accounting equation?
If you are the payer Increase in Prepaid Expenditure- Asset Decrease in Bank - Asset Equity= Asset- Liabilities 0 = +/- - 0 If you are the payee Increase in Income Recieved in Advance - Liability Increase in Bank - Asset Equity= Asset- Liabilities 0 = + - +
Would a credit entry to the accounts receivable ledger account would make the balance increase?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
