Accounts queries [2597]

All Resolved Open

Jayesh Jagetiya

31 December 2008 at 16:23

Preliminary exp.

Dear friends,
As per AS -26, intangible assets Preliminary expenses are to be claimed in the first year only.
& as per Income Tax to be claimed in 5 equal installments in 5 years.

Then why we some time time see the Preliminary exp. in the debit side of Balance sheet, if we are claiming in one year only as per AS -26.

GAURAV BHATIA

31 December 2008 at 16:19

Accounting of Lease hold land

Fact of the case

Lease Priod 30 Years
T&C Renewual of lease at expiration for furter five year at the descrition of lessor.

Q: Please clerify me whether the capitalization of lease Premium paid at initial stage will amortize during 30 year?

and

what accounting treatment will be done for

-Annual Lease rent
-Annual Maintenance Charges

Whether ICAI has issued any clerification or guidance for accounting of leasehold land?

siva

31 December 2008 at 15:27

Accounts information

What is Provison Give me a full details
How to calculate the pro.for depriciation

Kartik kapoor

31 December 2008 at 14:08

security deposit from debtor

Hi

Can anyone have any idea whteher the security deposit or advance received from customer can be adjusted from his outstanding for calculation of ageing.Please qute the relevant extracts of US GAAPS if any available on this subject.

best regards

kartik