tækjakostnaður

Tækjakostnaður refers to the cost associated with acquiring and preparing equipment for use, and is typically capitalized as part of a fixed asset (fastan eign) on the balance sheet. It represents the total expenditure necessary to bring the asset to a condition where it can be operated as intended and is subsequently depreciated over its estimated useful life.

Inclusions are costs that are directly attributable to bringing the asset into working condition. These commonly include the purchase price, import duties and non-refundable taxes, freight and insurance during transit, handling and storage, site preparation, assembly or installation, commissioning and testing, and professional fees such as engineering or consultancy required to make the asset ready for use.

Exclusions are costs that are not directly attributable to bringing the asset to use. Routine maintenance and ongoing servicing, staff training, warranties, and general overhead not tied to specific asset preparation are typically expensed as incurred. Repairs that extend the asset’s life or enhance its capacity may be capitalized as part of the tækjakostnaður if they create a future economic benefit.

Accounting treatment generally recognizes tækjakostnaður as the cost basis for depreciation. Depending on the accounting framework, assets may be accounted for under a cost model or a revaluation model, with depreciation or impairment reflecting the asset’s anticipated decline in value over time. Tax treatment varies by jurisdiction, and depreciation or capital allowances may affect tax results.

Examples include factory machinery, computing infrastructure, vehicles, and other machinery intended for long-term use in production or operations.