05-23-2011, 07:45 PM
hello!!!!
i have question for your to ask. do we have to prepare the profit and loss account if business has not yes started its operations and no fixed asset is recognized except land?
however, different expense are occurring like pre-operating expenses, research and development and admin expenses including other expenses directly attributable to qualifying assets. do we create deferred costs head in assets side to write off these expenses when operation is started?? or do we create profit and loss account and charge the expenses to same year when these expenses are occurred.
please give the answer with references of related IFRS and companies ordinance.
i have question for your to ask. do we have to prepare the profit and loss account if business has not yes started its operations and no fixed asset is recognized except land?
however, different expense are occurring like pre-operating expenses, research and development and admin expenses including other expenses directly attributable to qualifying assets. do we create deferred costs head in assets side to write off these expenses when operation is started?? or do we create profit and loss account and charge the expenses to same year when these expenses are occurred.
please give the answer with references of related IFRS and companies ordinance.
