The purchase cost of durable equipment Sample Clauses

The purchase cost of durable equipment. Only equipment purchased for the purposes of carrying out the action can be charged as direct costs. To be considered as eligible, a cost must be determined according to the beneficiary's usual accounting practice and each beneficiary must apply its usual depreciation system for durable equipment. Depreciation is charged in each relevant periodic report. Depreciated costs of equipment can never exceed the purchase price of the equipment. It is expected that the beneficiary calculates depreciation on the durable equipment that it purchases. Depreciation cannot be spread over a period exceeding the useful life of the equipment. Beneficiaries should be aware that not doing so and charging the full price of an asset in one single year might be considered an "excessive" cost, as referred to in Art. II.14.3 (g) of the ECGA, and therefore be considered ineligible.
Sample 1
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Related to The purchase cost of durable equipment

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