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Treatment of exp made for buying players by IPL franchises
In IPL every franchise has to pay the BCCI a certain sum of money for buying the players at the auction. How should they treat that expenditure in their books of accounts??
Replies (4)
I guess even they will be confused
whether to take players as an Advance payment in Assets side of B/s or as an Expenses in P&l Account
pls any CA help us in this matter
they treat the players contract fees as revenue exps........ debited in p&l
the amount paid to BCCI is also debited to P/L
I AGREE WITH SUDIPTO
IT SHOULD BE DEBITED TO P&L
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