I have a question about fixed assets in terms of how it should be reported under the relevant IFRS.
Is it possible to capitalise/put certain repair costs of leased cars under "other current assets" if we get a charge/cost from leased company in relation to any damage or service or repair underwent on leased company cars?
Can we key those costs under "other current assets" until the company gets the money from the insurance company in relation to those costs i.e.: damage, service or repair costs for those leased cars.
Leased cars are under operating lease
Hope it is clear and I look forward to hearing from you.