Definition
5.1 The fixed assets acquired from others should be valued at purchasers' prices. These values comprise cost of purchase of the fixed asset on the
market, customs duties, purchase and other indirect taxes and fees paid to government, transport delivery and installation charges, direct preliminary outlay such as site clearance and professional fees. The cost of fixed assets acquired during the year that have not been previously used in Sri Lanka should be included in this category.
5.2 Second hand fixed assets purchased - Include all assets that have been previously used in Sri Lanka.
5.3 Include the cost of major addition, alterations and improvement existing fixed assets that are charge to capital assets, exclude expenditure for current maintenance and repair.
5.4 Include the cost of fixed assets produced on own accounts i.e. the value of new fixed assets and additions and improvement to existing fixed assets made by the establishment's own labour force report either the cost of labour materials consumed and appropriate overheads or charge made to capital (fixed assets) accounts.
5.5 Sales of fixed assets should be value of the actual amounts realised rather than at book value.
5.6 Sum of New fixed assets, Second hand fixed assets, Alterations, Own-account FA's, Value of sale of FA's