Treatment of tendering expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2015
Dear All,
In case of Tendering Expenses, If we lost the tender we have to Debit the expense as a regular business expenditure. If we gain the tender we transfer that amount to the cost of the project. My Doubt is when we don't know the outcome of the tender, how that expense will be shown in the Financials at thee year end/ during interim financial reporting by listed companies.
In case of Tendering Expenses, If we lost the tender we have to Debit the expense as a regular business expenditure. If we gain the tender we transfer that amount to the cost of the project. My Doubt is when we don't know the outcome of the tender, how that expense will be shown in the Financials at thee year end/ during interim financial reporting by listed companies.
08 September 2015
You will have to keep it as an asset till you get to know the outcome.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2015
Thank you Sir...thank you Very much
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
