Rev. sch. vi

This query is : Resolved

CA Saurabh Shukla (Querist)
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07 July 2012 In last year there is preliminary exp. and preoperative exp. in balance sheet.

In current year, we fully w/f it in P&L as per AS 26.

Where we will show it in Rev. Sch. VI in P/Y Column.

Is it is prior period item?

kanhaiya kumar agarwal

kanhaiya kumar agarwal (Expert)
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08 July 2012 Dear Saurabh,

Preliminary Expenses and Pre-operative expenses is the above case should be group under Other Current Assets in the P/Y column.
Further, the same is not prior period item as it has not arisen due error or omission of past periods as defined in AS-5.

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