The ultimate destination of every penny spent by a business enterprise is the Expenses side of the Profit & Loss Account. Some items of expenditure are recorded as Expenses right away, while others are temporarily stored in a warehouse called Balance Sheet and transferred to the P&L Account in instalments. Till such items remain in the BS, they are called Assets and each instalment transferred as Expense is called Depreciation. Anil Lamba
Posted on: Fri, 12 Dec 2014 08:23:11 +0000
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