CASH PAID FOR THE PURCHASE OF WRIST WATCHES TO CELEBRITY IS GROUPED UNDER WHICH ACCOUNTING HEAD ?
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I think it depends on the nature of bussiness you are doing and purpose of giving watches. Accor. to me it can be categorise in the following heads-
1. Bussiness promotion
2. Advertising
3. Honorarium....
Yes anjali, it depend upon the nature of businessand for what purpose you buy this.
it depends on the nature of bussiness you are doing and purpose of giving watches.
Read more at: /forum/head-of-accounts-224556.asp#.UH6pdq6CapY
Read more at: /forum/head-of-accounts-224556.asp#.UH6pdq6CapY
NATURE OF BUSINESS WAS SELLING KITCHEN INTERIORS, PAYMENT MADE FOR PURCHASING WATCH,CURIOUS ETC.
Can u give me a valid purpose for which u are giving watches to the celebrity. Is it for the purpose of adversiting ur selling products.... If it is so then u should classify the same under head" Bussiness Promotion".
Under Bussiness & Promotion
General Expenses-Business Promotion
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