Rev. sch. vi
This query is : Resolved
CA Saurabh Shukla
(Querist)
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?
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?
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.
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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