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Treatment of discount on fixed assets

Treatment of discount on fixed assets

Hi. I was wondering if someone could tell me the correct treatment of a discount received when buying a fixed asset (company car).

Would it be credited to the asset account or to the P&L?

Many thanks

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26th Feb 2016 17:24

Neither.

Just include the asset at actual cost.

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By ADA123
27th Feb 2016 01:01

Thank you
This is what I thought but accountant is telling me otherwise. Says it should be credited to p&l as with other discounts received

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