Glossary · Accounting

What is Land improvements?

Accounting for work that improves the condition of a plot of land rather than the land itself: changing the land layout, access roads, parking areas, walls, landscaping and other structures. Such expenses are first accumulated in account 0850 and, once the work is completed, transferred to account 0111 "Land improvements" (NAS No. 21, paragraphs 12 and 72).

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