Case Studies in Accounting

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    Can We Place Entire Web site Development Cost in One Bucket?
    (Department of Accountancy, University of Kelaniya, 2016) Dayananda, K.H.N.K.; Thilakrathne, P.M.C.
    NK Logistics (Pvt) Ltd is a limited liability company incorporated in and domiciled in Sri Lanka. The company has invested in a fully owned subsidiary called “TT Destinations (Pvt) Ltd” in the audited financial year, i.e.; 2014/2015. Its’ principal business activity is to provide transportation service. Normally company organizes tourist trips for both local & foreign tourists. In addition they provide vehicle hiring service, air ticket booking and hotel accommodation service. Usually businesses tend to charges all the expenses with regards to web development, especially relatively small businesses like “TT Destinations (Pvt) Ltd”. They always feel that it is justifiable & easy to charge them to P/L. However firms should consider nature of those expenses before record as an expense.