Writing off preliminary expensed
This query is : Resolved
27 April 2013
What is the treatment for preliminary expense as per the revised Schedule. Is it the same procedure as followed earlier, writing off in future period in equal amount(say for five years}.
27 April 2013
Companies can disclose the unamortized portion of such expenses under the head “other current/ non-current assets”, depending on whether the amount will be amortized in the next 12 months or thereafter.
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