Direct expenses under current assets

Faiz Alam (Employee) (68 Points)

19 February 2014

Hello Everyone,

In which case the Direct Expenses come under the head Current Assets?

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6 Replies

Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
Replied 19 February 2014

UPTO MY KNOWLEDGE THERE ARE NO SUCH DIRECT EXP THAT COMES UNDER CURRENT ASSETS

Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
Replied 19 February 2014

WORK IN PROGRESS CAN BE BOOKED IN CURRENT ASSETS FOR WHICH PERIODICALLY AMT IS GIVEN BUT ACTUAL EXPENSES INCURRED IS STILL NOT CLEAR.

PRASHANT (Student CA Final ) (39 Points)
Replied 19 February 2014

PREPAID INSURANCE COMES UNDER CURRENT ASSET ...IF INSURANCE TAKEN ON RAW MATERIALS OR STOCK...

Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
Replied 19 February 2014

BUT PRASHANT CAN IT BE CONSIDERED AS DIRECT EXPENSES??

PRASHANT (Student CA Final ) (39 Points)
Replied 20 February 2014

yes...if insurance taken on raw materials...

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NILA REJESH P (Chartered Accountant) (815 Points)
Replied 19 June 2014

Prepaid Direct Expenses can be taken.

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