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preoperative expenses

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(Querist)
11 June 2008 In one company incurred expenditure before opening branch these expenditure like salaries, stipend, advertisement,Interest on loans, rent, security charges etc. these expenses are capitalised at the time of opening branch and the same is transferred to assets like furniture, plant and machinary etc is this procedure is correct if yes please give me source about the same
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
21 June 2008
If those preoperative expenses are connected so acquistion or construction of those assets, it can be added...otherwise it should not be added to any asset
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