Dear Friends ,
Company purchased Antivirous Software having the validity period of 3 years. Now what willbe the possible treatment -
1) Capitalize under the head softwarre and claim 100% Depreciation OR
2) Fully expenses because no expenses can be deferred OR
3) Book 1/3 in the current year and balance 2/3 will be prepaid expenseswhich will be writeoff in the next 2 year
Please answer alongwith any reference of Accouting Standard or Act if any ???
Thanks & Regards
Vishal Singhal
my approach will be to book 1/3rd expense and show the remaining as prepaid expense
That rings the bell
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It is prepaid expenese and recuped by 3 times bt it is above of 10 thousand
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