Extraordinary Repairs

Extraordinary Repairs
Unusually extensive maintenance work performed on a piece of machinery to increase its useful life by over a year. Ordinary repairs are maintenance items necessary to keep machinery functioning, which are anticipated by the initial estimate management makes about the asset’s useful life. For example, ordinary repairs might include getting an oil change on a vehicle, while extraordinary repairs would include replacing a transmission with a new model that extends the car’s expected life.

The accounting treatment of ordinary versus extraordinary repairs is different. Ordinary repairs are simply recorded as expenses in the current period, and the book value of the asset remains unchanged. On the other hand, extraordinary repairs can increase the book value of the asset, increasing depreciation expenses in future periods. Extraordinary repairs are capitalized.


Investment dictionary. . 2012.

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  • extraordinary repairs — Within the meaning of a lease, such repairs as are made necessary by some unusual or unforeseen occurrence which does not destroy the building but merely renders it less suited to the use for which it was intended. Courtney v. Ocean Accident &… …   Black's law dictionary

  • extraordinary repairs — Within the meaning of a lease, such repairs as are made necessary by some unusual or unforeseen occurrence which does not destroy the building but merely renders it less suited to the use for which it was intended. Courtney v. Ocean Accident &… …   Black's law dictionary

  • extraordinary repairs — Such repairs as are made necessary by some unusual or unforeseen occurrence which does not destroy the building but merely renders it less suited to the use for which it was intended. Courtney v Ocean Acci. & G. Corp. 346 Mo 703, 142 SW2d 858,… …   Ballentine's law dictionary

  • extraordinary — Out of the ordinary; exceeding the usual, average, or normal measure or degree; beyond or out of the common order, method, or rule; not usual, regular, or of a customary kind; remarkable; uncommon; rare; employed for an exceptional purpose or on… …   Black's law dictionary

  • extraordinary — Out of the ordinary; exceeding the usual, average, or normal measure or degree; beyond or out of the common order, method, or rule; not usual, regular, or of a customary kind; remarkable; uncommon; rare; employed for an exceptional purpose or on… …   Black's law dictionary

  • Затраты на внеплановый ремонт (EXTRAORDINARY REPAIRS)  — Существенные расходы, производимые на восстановление производственной мощности основного средства после выхода его из строя в результате поломки, неправильного или чрезмерного использования, либо халатности. Внеплановые ремонты вызывают… …   Словарь терминов по управленческому учету

  • repair — To mend, remedy, restore, renovate. To restore to a sound or good state after decay, injury, dilapidation, or partial destruction. Congress Bar and Restaurant Inc. v. Transamerica Ins. Co., 42 Wis.2d 56, 165 N.W.2d 409, 412. The word repair… …   Black's law dictionary

  • затраты на внеплановый ремонт — Существенные расходы, производимые на восстановление производственной мощности основного средства после выхода его из строя в результате поломки, неправильного или чрезмерного использования, либо халатности. Внеплановые ремонты вызывают… …   Справочник технического переводчика

  • Presidential Unit Citation (United States) — Presidential Unit Citation Army and Air Force P.U.C …   Wikipedia

  • General average/New version — Average in maritime commerce to signify damages orexpenses resulting from the accidents of navigation. Average is either general or particular. General average arises when sacrifices have been made, or expenditures incurred, for the preservation… …   Wikipedia

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