Urgent: new balance sheet

Preliminary expenses are not shown in the balance sheet.
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Whole amount will be recognised as an expense when it is incurred, by way of a charge to the profit and loss account. [Refer to Para 56 of AS 26]
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Further, if the same has been treated incorrectly by the company in the year of incurrence, it should be rectified in the current year and disclosed appropriately as a prior period item in accordance with AS 5.

you must write it off to p&l when it is incurred considering it as an expense. it should not be disclosed in b/s.