Specific donations
bsai partish (166 Points)
13 August 2020Then donations for tournament should be considered or not in income and expenditure a/c??
bsai partish (166 Points)
13 August 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 14 August 2020
It should be recognised as expense by a company. I’m not sure if it is a deductible expense, but what ever economic benefit outflow occurs, it is treated as an expense. The tournament company will treat it as sponsorship revenue.
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