Urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2013
Can u tell me what should be the accounting treatment of any asset purchased by the company and gifted to the employee.Whether it should be directly expensed out through Pnl or it should be recognised as an asset first and then transferred it to PnL. Kindly answer asap
26 March 2013
If such asset is first registered in the name of company then first recognise as fixed asset and then treat it as gift and debit to P&L a/c.
If such asset directly registered in the name of employee by incurring funds from the company then directly give debit to P&L a/c.
OM SAI SRI SAI JAI JAI SAI
If such asset directly registered in the name of employee by incurring funds from the company then directly give debit to P&L a/c.
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2013
Ok Thanks..
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