capitalization

crish Guest	#1 07/03/2012 06:09 Our company purchased some office furniture, art work and plants. can we capitalize all of them?

Master Guest	#2 07/03/2012 07:13 you can capiatalize if following conditions are fulfilled 1. asset has a usefull life of more then 1 year 2. future economic benifits from the asset can flow to the organization in normal practice plants are expensed out and not capitalized.