Preliminary expenses

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23 November 2015 kindly explain the treatment of preliminary expenses as per schedule 3 of companies act 2013

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 November 2015 Preliminary expenditure may be shown in the balance sheet (Schedule II part-1) under the head 'other non current assets'.Amount w/off yearly may be shown under 'other expenses' in 'statement of profit or loss'(Schedule II part-II).

Alternatively, fully w/off preliminary expenses in the year of occurrence as per AS-26.

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