Treatment of preliminary expenses under companies act 2013
This query is : Resolved
02 July 2015
Kindly explain the provisions regarding the treatment of Preliminary expenses under The Companies Act 2013.
02 July 2015
Preliminary expenditure may be shown in the balance sheet (Schedule II part-1) under the head 'other non current assets'.Amount w/off yearly may be shown under 'other expenses' in 'statement of profit or loss'(Schedule II part-II).
Alternatively, fully w/off preliminary expenses in the year of occurrence as per AS-26.
Alternatively, fully w/off preliminary expenses in the year of occurrence as per AS-26.
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02 July 2015
Sir,
Whether there is any provision in the Companies Act 2013 which states that a company should mandatorily write off the preliminary expenses?
Thanks in advance.
Whether there is any provision in the Companies Act 2013 which states that a company should mandatorily write off the preliminary expenses?
Thanks in advance.
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