Membership & subscription
This query is : Resolved
Tejashwini
(Querist)
18 December 2008
Dear Members,
An MNC client (German base) has paid towards membership fees for 20 years to golden palms hotel . Whether the same should be expensed on payment basis or amortised over a period of 20 years
Thanx in advance
C A Tejashwini
An MNC client (German base) has paid towards membership fees for 20 years to golden palms hotel . Whether the same should be expensed on payment basis or amortised over a period of 20 years
Thanx in advance
C A Tejashwini
CS Vivek Hegde
(Expert)
18 December 2008
In my opinion it should be amortised over the period of 20 years..Bcz the benefit wl occur for 20 years.. If we expenc it on payment basis its not a good accng practice.
Anyway it is based on the magnitude of the fees.
rgds
Vivek
Anyway it is based on the magnitude of the fees.
rgds
Vivek
CA Tilak Raj Sharma
(Expert)
18 December 2008
It should be amortised over the perod of 20 years.
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