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Answer / praveen.kp
Amortization is nothing but writting off of expenses with
series of months or year. this done mainly to intangible
assets and charged to P&L a/c.
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Answer / h.r. sreepada bhagi
Amortization is the process of writing off Intangible assets
over a period of more than one year. Example, Amount paid or
spent for acquiring patent, Pre-operative Expenses,
Preliminary Expenses, etc. It's similar to charging
depreciation on tangible fixed assets.
The purpose is not to burden the Profit & Loss A/c of the
year in which the expenses are incurred, but to spread over
a period or years with a view to set off against the
revenues of several financial periods with reasonable logic.
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Answer / parushuram
Gradual reduction in the value of intangible assets
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