Loss in profit & loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 October 2014
As per AS-26 Intangible assets, preliminary expenses is to be expensed in the year in which they occur.. this will lead to loss in the p&l as their is no income in the year of incorporation.... plz tell me the treatment of if their loss in the statement of profit & loss???
18 October 2014
This loss will be carried forward and adjusted against future profit.
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