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Preoperative Expenses

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(Querist)
06 October 2010 Generally a Private Limited company gets its registration certificate and commencement of business certificate at the time of its incorporation.
Suppose if a pvt. ltd company formed on Jan. 2010 and still it is not started its business, then statutory audit fee for the financial year 2009-2010 can becomes part of the pre-operative expenses or not?

If no then what will be right accounting treatment for the same as per GAAP?
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Ramanananda

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Ramanananda (Expert)
01 November 2010 what ever the expenses, it could be rent, statutory audit fee or any other expenses, u can treat them as pre-operative expenses... until the entity commences its commences its commercial operations or it is capable of commencing commercial operations...
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