Accounting treatment for preoperational expenses

You must also see what your local laws require, if you are not from Pakistan as I do not know what is the requirement of your legislature at Philippines. You must know that local laws always override/overrule the international standards and requirements.
South Beach Smoke

Preoperating and start up costs should be expensed as incurred under IFRS

Same under GAAP. I don't think there's any differences on this rule.

(Though it is true that some localities don't follow international standards -- some places just don't have strict rules, but I doubt anyone around here would know those. So we either follow the international standards or U.S. standards.)

What do we meen by say CAPITALIZATION

Hu

Quote:

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Originally Posted by Barnaba

What do we meen by say CAPITALIZATION

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I think you just done it, seriously to capitalise startup costs means to carry them forward and amortise them over time