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Expense Head for Director Education Expenses

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Ramdas Buran

Asst Manager Accounts

72 Points Posted on 02 March 2023

Dear CA's,

Please guide me on " We have paid Course Fee of our Director of our Company, Fees has been paid to "Harvard Business School". Under which expense head we need to account this expense.

Please reply

Thanks & Regards

Ram Buran

Replies (2)

Quick Summary

This discussion addresses the correct accounting treatment for course fees paid to institutions like Harvard Business School for a company director's education. Suggestions include classifying it under a general training or development expense head. Alternatively, a specific sub-account labelled 'Directors' Education Expenses' under 'Directors' Fees and Remuneration' is proposed for clearer tracking.

Ayush

Executive

9990 Points Posted on 02 March 2023

The course fee paid to Harvard Business School for the education of your company's director can be categorized as a training or development expense for the company.
Or you can also create a separate sub-account under the head "Directors' Fees and Remuneration" to record the expenses related to the education of directors. This sub-account can be labeled as "Directors' Education Expenses" or something similar.