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Should we account for full amount of preliminary expense in year 1 or charge it over a period in p&l ?
Raviteja Kusumanchi
CA Final
★ 24K+
24-Feb-20 19:22
488
Answers (2)
After AS-26, preliminary expenses are charged to P&L in Year 1. There is no concept of treating it as an asset.
CA Suraj Lakhotia
Admin
24-Feb-20 21:19
Okay sir
Thread Starter
24-Feb-20 22:26