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what is the meaning of preliminary expenses and how you
shown in balance sheet
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Answer Posted / kamruzzaman khan
Preliminary Expenses are incurred to form a company like
Fees in relation to RJSC (Registrar of Joint Stock
Companies), Consultancy paid to formation consulant, Fees
related to obtain Trade License etc. These are presented at
Balance Sheet as Fictitious Assest under the head
Miscellaneous Expenses. These should be amortize as per
over the years but IAS recommend to amortize these within
the first year of operation.
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