Is Miscellaneous Expenditure Covered under AS-26
This query is : Resolved
10 June 2008
Dear Friend,
I have receently being told by one of my senior fellow chartered Accountant that a latest expert advisiory commitee has directed that misc. expenditure are to be covered by the AS-26 and should be written off 100% in the year when such expenditure takes place. which was earlier used to amortised over a period of 5-10 years depending upon managements decision.
I would like to know some thing about such a direction. you people can help me in that
Thank You
I have receently being told by one of my senior fellow chartered Accountant that a latest expert advisiory commitee has directed that misc. expenditure are to be covered by the AS-26 and should be written off 100% in the year when such expenditure takes place. which was earlier used to amortised over a period of 5-10 years depending upon managements decision.
I would like to know some thing about such a direction. you people can help me in that
Thank You
23 August 2008
yes, it is to amortized 100% if it doesn't meet the recognition criteria.
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