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Discussion > Accounts >

Examples for fictitious assets?????????????????????

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CWA learner


[ Scorecard : 447]
Posted On 22 November 2011 at 15:46 Report Abuse

 

                                                          shareholder's fund

Net worth ratio                      =    -------------------------------

                                                     total aseets excluding ficticious assets

 

Whaat are fictitious assets. pls give me the examples for that.     

                                                         

                                                       


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ashish gupta
student


[ Scorecard : 1897]
Posted On 22 November 2011 at 16:07

like preliminary expenses not written off, discount on issue of debentures not written off.



Total thanks : 1 times




shwetha
CWA learner


[ Scorecard : 447]
Posted On 22 November 2011 at 17:08

thq Mr. Ashish




Arun Chhajer
CA & CS


[ Scorecard : 71]
Posted On 23 November 2011 at 17:12

We shown some asset under the head "MISC. EXPENDITURE (to the extent not written off)  in the balance sheet on asset side however that does not have any value ....called fictitious Assets. Example are same as pointed out by Mr Ashish.

 

Regards

Arun




Tejaswini
b.com 1st year


[ Scorecard : 21]
Posted On 24 November 2011 at 08:52

can you explain what does 'written off' exactly mean??

i have always heard written off but no one explained what it means.




ashish gupta
student


[ Scorecard : 1897]
Posted On 24 November 2011 at 14:42

written off means writing off the value of assets in P&L A/c. i.e. Debiting the P&L and crediting the assets.




Phalgun
CA FINAL(May 2014) ARTICLED STUDENT


[ Scorecard : 327]
Posted On 24 November 2011 at 15:34

Fictitious assets are those assets which are not tangible in nature & has no value. They are not taken over in the process of M & A. They are loss assets. They are shown on the assets side as they show debit balance. They are like preliminary expenses, P& L a/c (loss) & discount on issue of shares.




shwetha
CWA learner


[ Scorecard : 447]
Posted On 25 November 2011 at 09:50

 

Thank u Mr. Phalgun. Well again a doubt is raised in my mind. according to ur explanation "Fictitious assets are those assets which are not tangible in nature & has no value." is............. intangible assets and fictitious assets are same?




Phalgun
CA FINAL(May 2014) ARTICLED STUDENT


[ Scorecard : 327]
Posted On 25 November 2011 at 12:58

Intangible assets & Fictious assets are not one & the same. Intangible assets have value eg like Good will, Copy Rights, patents ....etc. Fictitious assets have no value. Intangible assets worth are taken over in the event of M & A. In the event of internal reconstruction same is written off. AS 26 deals with intangible assets.




Hemant
none


[ Scorecard : 21]
Posted On 19 May 2012 at 19:34

what is M&A?

 



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