07 November 2016
Sir/Mam,What should be the treatment of preliminary exp. , provision for doubtful debt and other such items in balance sheet . Either we should adjust them or show in balance sheets?
08 November 2016
Preliminary expenditure may be shown in the balance sheet under the head 'other non current assets'.Amount w/off yearly may be shown under 'other expenses' in 'statement of profit or loss.
Alternatively, fully w/off preliminary expenses in the year of occurrence as per AS-26.
CAclubindia
