Accounting for a building

If you buy a building, you acquire a set of elements such as buildings, for best accountancy training Best school of accountancy In Lahore. installations, fittings , etc. Three main accounts , all subdivisions of the account "213 - Constructions" will allow to record these data:

• The "  2131-Building " account will allow to account all the elements of the structure of a building (walls, floors, foundations, roofing). It will be important to decompose everything well since each element will have its own depreciation table
• The account "  2135 - General installations, fixtures and fittings of buildings " will be used to account for the present installations (electrical, heating, telephone) as well as all the work carried out to ensure that the premises are in good working order . Again, it will be important to properly
• The account "  2138 - Infrastructure works " allows to count the books to ensure the communications.

 Accounting for ancillary costs

The acquisition of a real estate complex is also accompanied by various charges which must be recorded in the accounts .

Transfer taxes, agency and notary fees, brokerage commissions and transaction fees can either be included in the acquisition cost to be broken down between all categories or be recognized as expenses .

On the other hand, the acquisition of furniture or a door step, for example, must be recorded in their usual fixed assets accounts.