Treatment of preliminary expenses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2012 sir,
I want to how will we treat preliminary expenses as per revised schedule VI. if preliminary expenses coming from 3 years. and will it written off 1/10 as we earlier did in P/L

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 August 2012 Companies can disclose the unamortized portion of such expenses as “Unamortized expenses”, under the head “other current / non-current assets”, depending on whether the amount will be amortized in the next twelve months or thereafter.

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