preliminary exp
This query is : Resolved
29 June 2010
earlier company was unlisted company,in the p.y company has listed in stock exchange.so listing fees paid to stock exchange,
so how to record this expenditure. whether it is debited as a preliminary exp or revenue exp
so how to record this expenditure. whether it is debited as a preliminary exp or revenue exp
29 June 2010
As per AS - 26 expenses incurred which do have not future benefit should be written off in the year in which they are incurred. Hence the same should be transferred to the revenue account.
Furthermore the same can be termed as share issue expenses and can be written off against the premium received on issue of shares.
Furthermore the same can be termed as share issue expenses and can be written off against the premium received on issue of shares.
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