28 January 2011
Dear Sir, We have paid a consultancy charge for getting ISO certification in which account we can charge it.Can i capitalize it? in which account what is the depreciation rate it is normally issued for more than one year we are not get the certification we only starting the initiative to get it. pls help me
28 January 2011
You can not capitalize it. it is one time payment take it as expenditure. You cannot traet as prepaid expenditure, since amount cannot be get refunded.
28 January 2011
Dear sir, Actually is it Goodwill to the company it is may be issued for 5 years its enduring nature is more than one year can we take it as deffered expenditure ? i get ur clerification pls give little bit clarification
CAclubindia
