A/c treatment of preapaid expenses

ARINDAM (Manager Internal Audit) (167 Points)

04 April 2016  

Plz guide me whether Annual Membership fees of any organisation will be traeted as perpaid exepenses or normal expenses.Suppose Annual Membership fess  for 2016-2017 paid on feb 2016, so total amount paid regarding above said matter will be treated as prepaid expenses or normal expenses.