Accounts

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Student (Querist)

25 November 2011 which are the accounts to be prepared in case of:
Doctor
Businessman (shop owner)
co operative society (any schedules?)

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

25 November 2011 Cash
Journal
Ledger
PL
Balancesheet

Student

Student (Querist)

25 November 2011 same accounts applicable for all 3 ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

27 November 2011 Cash & Journal & Bank books

Financial statement for

Doctor- Receipts & Payments a/c, Income & expenditure a/c, Balance sheet

For Co-op Soceity also the same as above

for trader- need to prepare Trading & profit & loss a/c. Balance sheet

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Student

Student (Querist)

27 November 2011 Rameshji, thnx. One more Qt. Can you give a sample entry as made in journal? Are JVs entered in journal??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

27 November 2011 Journals will be passed for the ledger to ledger transfer and accounts transfer where the cash & Bank not involved. also sale & purchases can be passed through journals. example for passing TDS entries in creditors or debtors account

for crditor
Dr:Creditor
Cr:TDS payable a/c

for debtor
Dr:TDS receivable a/c
Cr:Debtors a/c

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Student

Student (Querist)

27 November 2011 Thnx sir. The BS for the yr. 2011-12 is to be drawn using Ind AS or Ifrs or AS?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

27 November 2011 You can prepare Indian AS only for FY-2011-12

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Student

Student (Querist)

28 November 2011 Thanks for the prompt reply.

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