You are asking for accounting guidance. Let’s review the basics:
“However, small tools aren’t really considered equipment to me. The small tools for a construction company are actually a significant business expense,”
The difference between Asset and Expense is “Useful Life.” It isn’t just “Cost” determination.
For instance, you might buy 5 of […]
Resolution for 'accounting guidance issue: 'Can a construction company list small tools as assets?' available: Yes.
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