what do you mean by amortization of expense/income in accounts? Please explain
1 Replies
CA Lokesh Pokharna
(CA (Ahmedabad Bhilwara Chittorgarh))
(4128 Points)
Replied 07 November 2010
amortization of expences : it just like a depreaciation on fixed assets
as we know in balance sheet except physical fixed assets & current assets some more items also there
& these names are preliminary exp , goodwill, patents, copyright etc due to AS and other principals of accounts everyear we reduce equal amount from these accounts . this is called amortization of expences
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