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Accounting for Upstream Oil Companies

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13 January 2011 If expenses (e.g. G&G, G&A exps) are written off in a financial year considering that these would not result in any econimic benifit in future years, is it possible to write on in later years if benefits are coming from the field for which these expenses are incurred.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
16 January 2011 As per my understanding once any expenses is written off in the books , it cannot be write on.
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