PREOPERATIVE EXPENSES&PRELIMINARY EXPENSES
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2010
Sir,
If preoperative expenses and preliminary expenses are capitalized to which head we will write off these expenses and how many years it will written off in equal figures.
If preoperative expenses and preliminary expenses are capitalized to which head we will write off these expenses and how many years it will written off in equal figures.
06 March 2010
AS PER ifrs preoperative and preliminary expenses need to be expensed out unless it is incurred for any specific asset.
In case it is linked to specific asset, it should be added to the cost of the asset and depreciated over life of the asset.
In case it is linked to specific asset, it should be added to the cost of the asset and depreciated over life of the asset.
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