Treatment of election expenses

i have doubt regards one of the client is EX-MLA they spent election expenses on 2009 and they showed that expenses in balance sheet as deffered expenses it is correct, or not, if it is correct how to set off those expenses..if it is wrong tell me the correct procedure with explanation

Replies (2)

Praveen,

First I will Explain What Is Deffered Expenses,

"The term "deferred expense" is used to describe a payment that has been made, but it won't be reported as an expense until a future accounting period".

On Other Hand It Is Like Prepaid Expenses Which Is Not Expired,

Deffered Expenses Treated as Asset On Balance sheet Untill they Expires

As it Expires It Has to be moved to expenses a/c

 

 

elections is not a business type it is purely service oriented ..how those expenses should be write off if it is business entity  they adjust their expenses with profit ,but it is not business entity

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details