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Accounting fundamentals

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Querist : Anonymous (Querist)
19 November 2015 What is the difference between fictitious assets and deferred revenue expenditure?
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
25 November 2015 They are the same. Deferred revenue expenditure has no resale value. It appears in the balance sheet till it is amortized. Such expenditure is not fully transferred to P&L in the year in which it is incurred and hence balance is shown in balance sheet. It is not really an asset hence called fictitious asset.
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