25 July 2008
Prepaid expenses for Advertisment & publicity shown in Balancesheet from year 2003-04 onwwards from which a particular amounts is shown as expenses in each year from 03-04 what about your opinion about showing balance not w/off amount in balance sheet in the f.y. 2007-08
25 July 2008
yes it can be shown as long as it is prepaid. i.e., the company has not avialed the services for the amount paid. If it is deferment of expense then it needs to be charged off as As 26 does not allow these expeses to be capitalised.
26 July 2008
Sirs As-26 is effective from 1-4-2004 on wards our company is PSU even though the name specified as prepaid it is simply deferment of expenses no treatment of AS-26 is done up to 2006-07 what will do in the F.Y. 2007-08 is it any seperate qualification/disclosure required in notes or audit reports
CAclubindia
