Ordinary repairs

Ordinary repairs are expenditures for repairs that do not prolong the life of an asset or increase its usefulness. These expenditures are charged to expense as incurred. If they had instead met one or both of the preceding criteria, repairs would instead be capitalized and charged to expense over time. An example of an ordinary repair is the replacement of a worn part on a machine. Ordinary repairs tend to be lower-cost items.

Related Courses

Fixed Asset Accounting 
How to Audit Fixed Assets