PREOPERATIVE EXPNESES

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23 Points Posted on 22 October 2007

Hi Friends.

                  Please advise me with respect to this question. A Company has been incorporated on 10.04.2006. It has not commenced its operations till 31.03.2007. How should the transactions(i.e. expneses in particular) that occurred between 10.04.2006 and 31.03.2007 be treated?

Please advise asap.

 

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On 22 October 2007 at 22:54 Report
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22 Points Posted on 23 October 2007
These above expenses are in the nature of Pre-operative expenses. Those expenses whic are incurred on assets being capitalised it shall be loaded on to the same and capitalised. Any other expense will be charged off through P &L appropriation a/c
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On 23 October 2007 at 10:45
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2371 Points Posted on 23 October 2007
It's direct bearing to capital accounts,srtictly speaking depend upon expenditure nature it could be capitalised,Rest is Miscellenous Expenditure,to be absorbs in the year ahead & deffered.
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On 23 October 2007 at 11:02

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