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LCI Learning

New revised balance sheet

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CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)   (85930 Points)
Replied 01 December 2012

@ Priyanka- for detailed revised sch 6 whic items comes under which hed jus click on following atached file hope ur  all querries will b answered.yes


Attached File : 391122 1093332 rev sch6 in detail .pdf downloaded: 248 times


Raj Shrivastava (Article Assistent) (21 Points)
Replied 17 July 2013

Originally posted by : Bharat chandan

In module preliminary expenses is shown as other current asset in revised schedule VI balancesheet
but it does not satisfies the definition of current asset
what will be correct treatment of preliminary expenses, underwriting commission, discount on issue of shares and debentures????????
pls reply soon

Please refer Accounting Standard - 26, Prilimany expese since does not meet the criteria of being an Intengible asset should be written in the first year only. If it is being carried forward for five years then it is a wrong procedure.

Correct me if I am wrong.

 

 

Regards,

Raj Ranjan


kashmeera zambad (1 Points)
Replied 08 March 2016

Preliminary expenses are subtracted from securities and premium or it still there is a balance they are written off against statement of profit and loss under shareholders funds in balance sheet.


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