@ Priyanka- for detailed revised sch 6 whic items comes under which hed jus click on following atached file hope ur all querries will b answered.
@ Priyanka- for detailed revised sch 6 whic items comes under which hed jus click on following atached file hope ur all querries will b answered.
| Originally posted by : Bharat chandan | ||
 |
In module preliminary expenses is shown as other current asset in revised schedule VI balancesheet but it does not satisfies the definition of current asset what will be correct treatment of preliminary expenses, underwriting commission, discount on issue of shares and debentures???????? pls reply soon |
 |
Please refer Accounting Standard - 26, Prilimany expese since does not meet the criteria of being an Intengible asset should be written in the first year only. If it is being carried forward for five years then it is a wrong procedure.
Correct me if I am wrong.
Regards,
Raj Ranjan
CAclubindia
