Revised schedule vi

This query is : Resolved

Manisha Garg (Querist)
Follow

15 August 2012 Can anyone tell me where to show preliminary expenses in revised schedule VI as there are no note or head assigned for it??

sumit arora

sumit arora (Expert)
Follow

15 August 2012 These are to be shown under head "Other Current Assets"

Manisha Garg

Manisha Garg (Querist)
Follow

15 August 2012 Sumit Arora sir, but preliminary exp has to be written off in 5yrs so how cn it be current assets?? plz clear this point.

sumit arora

sumit arora (Expert)
Follow

15 August 2012 Dear Manisha Garg,

These will shown under Other Current/ Non current Assets depending on whether the amount will be amortized in the next 12 months or thereafter.

Regards

Message likes : 1 times

CA Guru M

CA Guru M (Expert)
Follow

15 August 2012 Preliminary exp & other items which were to be disclosed under " Miscelleneous exp " in Old Sch VI, are to treated as current assets to the extent to be written off in current financial year & balance to be shown under non current asset.

Manisha Garg

Manisha Garg (Querist)
Follow

15 August 2012 thanks Sumit sir and Guru m sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now