What is the classification and adjustment of different Preoperative expenses in books of accounts of company?
What is the classification and adjustment of different Preoperative expenses in books of accounts of company?
In accordance with paragraph 56 of AS 26 such expenditures should be expensed by way of a charge to the profit and loss account in the period in which these are incurred. For this purpose, profit and loss account will have to be prepared by the company even before the commencement of commercial operations.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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R P S K & Associates
Nashik
CA Inter
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