Fixed Assets and Projects: law, practical example, evidence, risk and Finin2min action workflow.
Capitalisation, componentisation, useful life, location, impairment and disposal need controlled records.
Accounting standards
Read with the current rules, notifications, circulars, portal instructions and binding judgments applicable to the event date.
Fix person, entity, role, activity, period, location, threshold and regulator.
Separate statute, delegated law, regulator guidance, contract and internal policy.
Reconcile documents, systems, filings, accounts and approvals.
Use project completion certificates.
Project costs remain in CWIP after commissioning.
Finin2min decision rule: reperform the analysis when a material fact, date, role or legal instrument changes.
Delayed capitalisation misstates depreciation.
Common additional failures are stale law, incomplete authority, inconsistent records, undocumented judgment and missing cross-law analysis.
| Stage | Control | Output |
|---|---|---|
| Facts | Freeze parties, dates, amounts and documents | Fact sheet |
| Law | Open current primary sources | Legal map |
| Evidence | Resolve inconsistencies | Evidence index |
| Decision | Approve, remediate, disclose or escalate | Signed note |
Capitalisation, componentisation, useful life, location, impairment and disposal need controlled records.
Accounting standards
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail.
Use project completion certificates.
Source review: 4 July 2026. Verify later amendments and case status before professional reliance.