What is fictitious assets with example
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Posted by Sachin Bhardwaj 5 years, 5 months ago
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Yogita Ingle 5 years, 5 months ago
A fictitious assets is not an actual assets.It is just the not write off the losses of the business happened due to some event of busines.These are not transfer to P&L becz they follow the going concern principle of accounting. It is believe that these losses will occur on the affairs of business which provide the benefits for a few years.So,these will be written off with proportionate amount in the coming years of the business..e.g, preliminary expenses,discount on issue of debentures.and so on.
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