NEW SCHEDULE VI

This query is : Resolved

SAHANA J N (Querist)
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24 July 2011 I AM IN THE PREPERATION OF BALANCE SHEET FOR A SMALL NEW PVT LTD COMPANY WHERE SHOULD I SHOW THE PRELIMINARY EXPENSES AND PRE-INCORPORATION EXPENSES IN THE ASSET SIDE?

Under which head of ASSET side I should show in New Schedule VI?

Ram Avtar Singh

Ram Avtar Singh (Expert)
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24 July 2011 Intangible Assets
Preliminary & Preoperative expenses
Deferred Revenue Expenditure
Goodwill
Trade mark
Patents
Rem : The o/s balance to be written off every year by charging P&L account

Ram Avtar Singh

Ram Avtar Singh (Expert)
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24 July 2011 Preliminary Expenses are the expenses incurred during the
establishment of a firm/Company. These expenses have to be
written off during a defined period of time
proportationately- say 5 years or so. This goes to the
asset side of balance sheet.

SAHANA J N

SAHANA J N (Querist)
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25 July 2011 Under which head of ASSET side I should show in New Schedule VI?

Ram Avtar Singh

Ram Avtar Singh (Expert)
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25 July 2011 ASSETS

Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets

Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets

Ram Avtar Singh

Ram Avtar Singh (Expert)
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25 July 2011 under Intangible Assets in Fixed Assets

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