Accounting for fixed assets: recognition, cost capitalisation, revaluation rules and key disclosure requirements under AS 10. AS 10 requires inclusion of items meeting the fixed asset definition in financial statements, measured at historical cost or revalued amounts. Cost includes purchase price net of discounts and directly attributable costs to bring the asset to working condition; self constructed assets include allocable construction costs. Subsequent expenditures capitalise only if they increase future benefits beyond prior performance; routine repairs are expensed. Revaluations must be systematic by class, not exceed recoverable amounts, and revaluation increases flow to revaluation reserve while decreases impact profit and loss except to the extent of prior reserves. Disclosures must show movements, construction expenditures and revaluation details.