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What is the accounting treatment of preliminary expenses?

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Question ajoutée par NILA REJESH ACA , Auditor , SAJEEV & AJITH CHARTERED ACCOUNTANTS
Date de publication: 2014/02/18
Syed Muhammad Nazir Uddin
par Syed Muhammad Nazir Uddin , Senior Accountant , Sahnon Contracting Company Limited

preliminary expenses should be adjusted within5Years

Mohan Cherian
par Mohan Cherian , Senior Accountant , First Bateel General Trading & Contracting Co. (Al Roumi Group )

Preliminary Expenses A/c Dr.                        Asset Side in Balance Sheet

           To Cash/Bank/Party                          Cash or Bank Asset - if Party then Laibility Side as payable

 

After company starts operation write off the preliminery expenses in less than1 year

   

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