Sir ESI Department has forcely recoverd the dues by instrucing our banker to debit our company account

We had gone for appeal and matter is pending

the amount wss debited in the books on 11th April ,2012 can we make the provision of the same in our books for the FY 2011=12 or should we show the amount recovered as Current assets - Esi Recovery account pending decision kindly advise

Dear sir,
iam currently pursuing icwai inter 2nd group.i want to knw how to learn costing subject.This is my first time iam dealing with such a paper.i tried to solve the problems bt unfortunately it is difficult.i was confused where to treat the items given in the question.iam planning to write the exam on june 2012.pls help me out.....i hope u will give me the reply as soon as possible.

Dear Experts

I have own two companies both are under proprietorship. Can u please give me the cash transaction limit per day between two companies..

Thx & Rgs

Harsha

Dear Sir's

We hava a motor bike valued Rs.45000/- which is not taken into Account in F.Y 2010-11 and same has been sale to our staff with same value in current Financial year. The whole amount will be deducted from his salary by equal installment of Rs.3000/ per month.

Can anybody advise me, what's the entry I made in the books of accounts.

Thanks in advance for early reply.

Dear Experts, While Preparing B/s under revised Schedle VI under what head we have to disclose Unamortised portion of Preliminery Expeses, and also amortised portion in Statement of Profit & loss.

The Holding company has given to the subsidiary company employees, an option to subscribe to it's shares by way of either:-

a) Outright Purchase
b) Cash Settlement of differences in prices.

The employees are also liable to pay an option premium for the same.

How do we account for this in the subsidiary company's books(Ind Co), as this instance hasn't been covered by the Guidance note issued by the institute.

Barring the premium collection entries, should this be accounted having the Guidance Note as base?

Thank you
Sanath

i recently saw an annual report in which leasehold land was amortized during the period of lease.
can yu please substantiate it and provide reasoning behind it?
Depreciation obviously cant be claimed as it s not covered by AS 10.

HEAVY RENOVATION IS BEING CARRIED ON
EXPENDITURE RELATED TO
WIRING, WOOD PURCHASED FOR PARTITIONS OF DOORS , OTHER ELECTRICAL ITEMS PURCHASED
SHOULD BE CAPITALISED
UNDER
BUILDING OR
ELECTRIC INSTALLATION
OR FURNITURE & FIXTURE
EVERYTHING UNDER BUILDING OR RESPECTIVE HEADS.
KINDLY CLARIFY

A society received Rs. 200000 as a grant from MLA for building construction.
Society Spent Rs. 256000 on building construction.

How should we account donation in books of accounts. Society not providing any depreciation on building.
As per AS 12 second method of accounting of donation for fixed asset, deferred income and useful life not ascertainable.

Whether Society show specific donation as a capital reserve and show building at Rs. 256000.

is there any time limit for imprest settlement on returning to place(Ofc) from official tour outside the state.

and if employee has gone abroad for official purposes, than with in how much time of his returning to India bills to be obtained from him.
for booking of expense what rate of exchange should be considered ??
- on the date on which bills deposited and imprest settled
- average rate

and one more thing
if in between... imprest given and bills obtained date of closure of accounts arrives i.e31 march than
expenses booked next year will be considered prior period