24 December 2012
One of my client is a partnership firm, which has been incorporated on 16-04-2012. they have incurred an amount of around 60000/-for advertisement and marketing expenses on march 2012, can we account that amount in the month of April 2012. or else give some idea regarding the issue
24 December 2012
There is no such provision like in case of Companies with regard to Pre -Incorporation profits. However same can be accounted in case the billing is in the name of firm which is a remote possibility.
CAclubindia
