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IF WE PAY AUDITOR FEE FOR INCORPORATION WORK THEN UNDER
WHAT GROUP IT COMES IN TALLY.
2. any other audit fee we paid suppose at the time of
financal report preparing then it will comes at the same
group or any other
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Answer Posted / h.r. sreepada bhagi
All expenses relating to incorporation of a company
including auditor's fee is accounted as Preliminary
Expenditure & is written off over a period of 5 or 10 years
as per the law of the land. Till it's fully written off, it
is shown under the group 'Miscellaneous Expenditure' (To the
extent not written off or adjusted) on the Assets side or
under Application of Funds.
Auditor's remuneration paid for subsequent audits can be
accounted in 'Auditor's Remuneration' A/c & any money paid
to auditors or others towards professional services can be
accounted in 'Legal & Professional Charges' A/c.
In any case there should be disclosure of moneys paid to
Auditor's in teh Notes to Accounts annexed to the Annual
Audited Statement of Accounts.
| Is This Answer Correct ? | 7 Yes | 0 No |
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