Accountancy treatment for leased property

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Jun 15, 2017
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Sri Lanka
We are in a process of lease-out a property for a considerable amount. Just want to know how we should account following transactions;

- We are going to spend on some modifications in the building – Should this cost be capitalized or expensed

- Paid a Stamp Duty on Lease agreement, what is the treatment, should this be considered as a part of the rental or in a different expense as stamp duty

Please advise
 

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