Accounts

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Student (Querist)
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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)
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25 November 2011 Cash
Journal
Ledger
PL
Balancesheet

Student

Student (Querist)
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25 November 2011 same accounts applicable for all 3 ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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)
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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)
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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)
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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)
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27 November 2011 You can prepare Indian AS only for FY-2011-12

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Student

Student (Querist)
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28 November 2011 Thanks for the prompt reply.

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