income tax

This query is : Resolved

Share Report Follow Query Ask a Query

Guest

Guest (Querist)

19 June 2009 what is prior period expenses

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
Follow

19 June 2009 Expenses which are incurred prior to commencement of business.

CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
Follow

19 June 2009 Expenses prior to commencement of business.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

19 June 2009 agree with the experts

Jitender

Jitender (Expert)
Follow

19 June 2009 AS PER AS-5 , PRIOR PERIOD EXP ARE THOSE EXP WHICH ARISE OUT OF ERROR OR OMISSION IN PREVIOUS YEAR PERIOD AND ARISE IN CURRENT YEAR.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
Follow

20 June 2009 agree

CMA Ankur Pandey

CMA Ankur Pandey (Expert)
Follow

20 June 2009 Prior period items are income or expenses which arise in the current period
as a result of errors or omissions in the preparation of the financial
statements of one or more prior periods.

taxindiaconnect

taxindiaconnect (Expert)
Follow

26 June 2009 Just for the sake of clarification , the expenditure which are incurred prior to commnencement of business are expenditure prior to commencement and are laible to be capitalised in books along with capex if belong to capex direclty. Indirect expenditure are charged to P & L Account. The prior period expenditure and incomes are those as defined by Ankur Above.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jagdeep Kaur

RAVINDRA JOSHI

Jaipal Singh

AJAY Kumar Agrawal

CA K GIRIDHAR

Subscribe Now

income tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA