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Preliminary expenses

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(Querist)
01 July 2014 what is preliminary expenses and how we posted in aseets side?
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Guest (Expert)
01 July 2014 Preliminary expenses are the nature of fictitious assets. These are the formation expenses of the company before any operation of the busies held. These are transferred to the profit and loss accounts and written off every year from the profits of the business. These expenses are shown
on the assets of the balance sheet under the head miscellaneous.
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Rupesh Jain

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Rupesh Jain (Expert)
01 July 2014 preliminary exp. for exp. for incorporation of company . it treat a fictitious assets and written off in 5 years. and bal. amount show in Balance sheet till it not written off.
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