In Exim operations forward loss can treat as Misc. Expenses ( Asset) in Balance Sheet or it treat as indirect expenses. Please clarify.
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Misc. expenses( asset)
Replies (3)
It should be treated as indirect expenses
It should come under indirect expenses...and as per my knowledge and after thinking logically such exp should never come under asset
Golden rules _ nominal a/c _debit all expenses and losses
Direct exp_any exp which the business output
indirect exp_any exp that doesnt affect the business
from this you can very procced ,it is a indirect exp
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