In Exim operations forward loss can treat as Misc. Expenses ( Asset) in Balance Sheet or it treat as indirect expenses. Please clarify.
Prasanna- 9032229117
Menu
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
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
CAclubindia
