Revised schedule vi
This query is : Resolved
19 August 2012
in revised schedule VI, where will be preliminary exp not written off or misc expnd (balance sheet items) will be shown ????
19 August 2012
as per my understanding it shall be shown under other current assets as a part of same shgall be w/o every year.
19 August 2012
As per Revised Sch VI,Mics exp to be written off in next 12 months will be shown under Other Current Assest.
balance portion shown under Other Non current assets.
balance portion shown under Other Non current assets.
CA CS Amit S. Kedia
(Expert)
19 August 2012
What is the preliminary expenses first of all????
Preliminary expenses are fully written off in the year in which they occur only irrespective of the amount as per accounting standard 26.
Even though you want to show the same then as per revised schedule VI it will be shown either under " other current Assest" or "other non-current Assets" depending upon the definition of current assets/non current assets.
Preliminary expenses are fully written off in the year in which they occur only irrespective of the amount as per accounting standard 26.
Even though you want to show the same then as per revised schedule VI it will be shown either under " other current Assest" or "other non-current Assets" depending upon the definition of current assets/non current assets.
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SANYAM ARORA
(Expert)
19 August 2012
Agreed with Amit Sir
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