muhammed haris (Internal auditor) (51 Points)
18 January 2014Whether the following expenses is direct expense or indirect expense where the organization is a school
1.stationery expenses (mostly used by teachers in teaching process)
2.Science lab consumables purchased (sclence lab fee is collected from students)
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5148 Points)
Replied 25 April 2014
stationery expenses & lab consumables are direct expenses. Sine the organisation is a school. no need bifurcation of expenses.All expenses to be debited into income & expenditure a/c only.
CAclubindia
