Deferring of huge expenses

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Saran

Saran (Querist)
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03 September 2019 Is there any conditions for deferring of expenses.Is deferring still allowed as per AS?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 September 2019 As per Accrual concept the expense and income has to be accounted as and when then incurred. there is no deferral allowed

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 September 2019 As per Accrual concept the expense and income has to be accounted as and when then incurred. there is no deferral allowed

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Amol S Joglekar

Amol S Joglekar (Expert)
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05 September 2019 IFRS 14 Regulatory Deferral Accounts permits an entity which is a first-time adopter of International Financial Reporting Standards to continue to account, with some limited changes, for 'regulatory deferral account balances' in accordance with its previous GAAP, both on initial adoption of IFRS and in subsequent financial statements. Regulatory deferral account balances, and movements in them, are presented separately in the statement of financial position and statement of profit or loss and other comprehensive income, and specific disclosures are required.