Hello Everyone,
In which case the Direct Expenses come under the head Current Assets?
Menu
Direct expenses under current assets
Replies (6)
UPTO MY KNOWLEDGE THERE ARE NO SUCH DIRECT EXP THAT COMES UNDER CURRENT ASSETS
WORK IN PROGRESS CAN BE BOOKED IN CURRENT ASSETS FOR WHICH PERIODICALLY AMT IS GIVEN BUT ACTUAL EXPENSES INCURRED IS STILL NOT CLEAR.
PREPAID INSURANCE COMES UNDER CURRENT ASSET ...IF INSURANCE TAKEN ON RAW MATERIALS OR STOCK...
BUT PRASHANT CAN IT BE CONSIDERED AS DIRECT EXPENSES??
yes...if insurance taken on raw materials...
Prepaid Direct Expenses can be taken.
Recent Topic
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
Related Topics
CAclubindia
