Pre operating expenses

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vamshi krishna (Querist)
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07 February 2017 Dear sir
before setting up a plant we have taken a go down on rent basis
for 6 months it is before commencing the business.
actually as per IFRS what is the treatment
can i amortise the expenditure for years
or treat as p&L expenses
pls help me

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 February 2017 Treat as P&L expenses.

vamshi krishna

vamshi krishna (Querist)
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07 February 2017 Thaks for reply

Sir

is any chance to do amortisation if yes how many years as per IFRS
because it shows a huge effect if we have shown in p&l
pls suggest me

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 February 2017 Refer IAS 16 and IAS 38 such expenses has to be charged off in the year of expenditure incurred.

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