Recognition of expenses

Income is recognised as per AS - 9

For Expenses

Special Expenses

AS - 6 : Depreciation

AS - 11 : Foreign Exchange Fluctuation difference

AS - 15 Employee Benefits (Salary, perquisites etc)

AS - 16 Borrowing Cost (Intt on loan)

Other Expenses

Matching Concent : If you credit income then correspoding expenses must be debited.

Conservatism Concept : Recognise Expenses before income..

Thanks

Comprehensive answer by Mr. Sanjeet...