Treatment of misc. expenditure in balance sheet as per revised schedule vi
This query is : Resolved
Partha Pratim Sahoo
(Querist)
29 October 2013
Can misc. expenditure be deducted from Reserves & surplus since it is deducted while calculating Shareholders' fund? If No, then where to treat it? Plz help.
Ganeshbabu K
(Expert)
29 October 2013
It is required to disclose under the head "Other current assets"
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Partha Pratim Sahoo
(Querist)
03 November 2013
Thank you.
CA Pallav Singhania
(Expert)
03 November 2013
As per new Schedule VI it must be shown under other current asset..
(to the extent not written off or adjusted)
(to the extent not written off or adjusted)
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