answered
Q: A client has recently purchased a new business. Should the preliminary expenses incurred such as legal fees, site valuation, stocktaking fees, web/domain and business registration fees be expensed in the P&L or should I capitalise those items in the balance sheet because they relate to setting up a new business?
Thanks,
A: Hi Suresh & Brendan,
Thanks heaps for your responses! I didn't expect an answer from anyone so soon. Thanks again for your help!
question
Q: A client has recently purchased a new business. Should the preliminary expenses incurred such as legal fees, site valuation, stocktaking fees, web/domain and business registration fees be expensed in the P&L or should I capitalise those items in the balance sheet because they relate to setting up a new business?
Thanks,
