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buy one get one free, should i capitalize two assets? or only one?

asked Jun 5, 2017 in IAS 16 - Property, Plant and Equipment by T.A

I need to know if i should capitalise an item received as a commercial gesture in a bulk purchase. Such as buy one get one free

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answered Jun 5, 2017 by Visio Level 5 Member (29.1k points)

IAS 16 requires to record the assets initially at cost. You need to account for what you paid for the assets.

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