Accounting of advisory charges


This query is : Resolved 

Quick Summary
This discussion clarifies the accounting treatment of advisory charges paid on imports. The consensus is that these charges should not be added to the cost of the purchase. Instead, they are to be accounted for under indirect expenses, as bank charges are not considered a direct cost of acquiring goods.

06 November 2023 Should I add advisory charges paid to bank on imports to cost of purchase or should I show it under other expense?

07 November 2023 Show under other expenses

07 November 2023 Can you please quote the standard on which your answer is based on?

07 November 2023 Bank charges can't be cost of purchase. It's accountable under indirect Expenses.


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