Cpt doubt accounts

but according to the new Balance Sheet, there is no heading of Misc Exp.

i wrote Misc Exp. bcs it was written in the book. Does ICAI will follow new Balance Sheet rule or Book rule.?

than obviosly it will be shown under non-current assets...

as per revised format there are 5 sub headings under head NON-CURRENT ASSET

i) Fixed asset

ii) non-current investment

iii) deferred tax asset(net)

iv) long term loans & advances

v) other non current assets

so it will be shown under deferred tax assets...

Originally posted by : Radhe
	It ll be shown under the Asset, sub head :Non Current Asset.. Under non current Asset: Other Non Current Asset.

Hello Radhe

Greetings of the day

It will be shown under DEFERRED TAX ASSETS

An asset on a company's balance sheet that may be used to reduce any subsequent period's income tax expense. Deferred tax assets can arise due to net loss carryovers, which are only recorded as assets if it is deemed more likely than not that the asset will be used in future fiscal periods.

Read more: https://www.investopedia.com/terms/d/deferredtaxasset.asp#ixzz2Hr3fJr3x

par book mein Misc exp likha hai, so what will be the answer ?

DOES ANYBODY HAVE LATEST EDITION OF CPT ACCOUNTS BOOK

If out of 4 options one is misc exp & one is non current asset than non current asset will be the answer otherwise misc exp...

@ radhe i AGREE TO U