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When expenditure termed as asset

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When expenditure termed as asset

Posted by Himanshu Jha 7 years, 6 months ago

CBSE > Class 11 > Accountancy

2 answers

Kanchan Baghel 7 years, 6 months ago

Accountants must be aware of the difference between assets and expenses because of the effect confusing the two can have on a company's financial statements. An accountant who attempts to treat an asset as an expense will understate the company's profitability and total net assets, since assets are not supposed to be wholly expensed in the period they are purchased. Failing to treat assets and expenses correctly will result in erroneous financial statements.

Kanchan Baghel 7 years, 6 months ago

You choose maths in commerce

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