23 May 2012
sir, I have a that in the may attempt of pce in accounts there is a question from incomplete records , there is an adjustment of goods costing rs. 18000 used as an advertisement articles sir i want to know the exact treatment of this in trading , profit and loss a/c and in the balance sheet?
23 May 2012
Advertisement expenses are expensed to income statement when incurred. If it is for tenders for procurement of goods, then it is cost of sales.
CAclubindia
