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what are ficticious assets???

Fictitious assets are those assets which don't have any tangible existence but some expenditure has been incurred on them. These are shown under the assets just to account for expense such as Loss on issue of shares, these are written off as soon as possible against the earnings of firm

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Asset created by an accounting entry (and included under assets in the balance sheet) that has no tangible existence or realizable value but represents actual cash exenditure. The purpose of creating a fictitious asset is to account for expenses (such as those incurred in starting a business) that cannot be placed under any normal account heading. Fictitious assets are written off as soon as possible against the firm's earnings.

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Hi Jasmine,

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Refer this webpage: http://goo.gl/Sprtn (copy and paste it in the address bar)

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At above page, the meaning of fictitious assets is explained a little bit by me.

I hope it will be helpful to you.

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