16 September 2009
A Ltd company invest some Amount in developing Software, and they want to recognise the same as deferred revenue expenses please suggest whether they can do so, please give me reference of Company Act, Accounting Standard or IT act whichever is applicable
17 September 2009
there is no concept of deferred revenue expenditure after AS 26. You can capitalise the development costs as intangibles provided all the conditions in AS 26 are met. Please let me know if you require further details in this regard.
CAclubindia
