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What is the treatment for PRELIMINARY EXPENSES?
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Answer Posted / vikash didwania
If any preliminary expenditure incured for those activities
which are mentioned in A.S 26 then the entire expenditure
should be charged to P & L and if it incured in respect of
A.S 10 then it should be capitalised.
Apart from these only share issue expenditure should be
amortised in P & L account over the period of 5 year. The
term deferred revenue expenditure concept is no more exist.
| Is This Answer Correct ? | 8 Yes | 2 No |
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