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Can I capitalize changes in vessel name


Can I capitalize professional fees that is related to renaming of a used asset purchase?

asked Jul 28 in IAS 16 - Property, Plant and Equipment by anonymous

1 Answer

0 votes
Yes you can

As per IAS 16, Cost can include any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management is located.

Since you need your name on it before you can use it, you can capitalize.
answered Jul 28 by Mysio Level 5 Member (22,110 points)


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