ABC Ltd. is having FY starting from 1st July to 30th June. Company decides to change its FY from July-June to 1st April to 31st March.

Can the company do so?. If it changes, can the company can disclose its results from July to March (Jul-Jun-Mar) i.e. for 21 months.

If it changes what are the implications and other complainces with Companies Act, SEBI Guidelines, ROC filings and RBI norms and company can adhere to

If a bill dated 12/02/2011 is received on 21/5/2011, then how will we account for it in our records ?
What are the related provisions stated by ICAI in this regard ?
As the financial statements have already been prepared as at March 31,2012.



Please help

what is the accounting treatment of income earned before commencement of business?

during my audit i observed that co. earned rs.7890000/- huge fixed rate of interest from FDR, before commencement of business.

good afternoon experts

plz tell me what is deferred tax asset & deferred tax liability.what is the treatment of defered tax assets & deferred tax liabilities.

What will be the journal entry for-

A person takes a loan on fixed assets on 1.4.05 for Rs. 3 lacs.

On 31.3.08 Balance left was Rs. 2 lacs..But bank ask to pay only Rs. 1 lac for the whole amount.

What will be the journal entry in the books of that person?

Dear sir,

Closing stock is an item of current assets then why it appear in trading account?

Please clarify

Thanks in advance

WHAT TYPE OF EXPENSES COME IN COST ACCOUNTS BUT DO NOT COME IN FINANCIAL ACCOUNTS

I receive transporter invoice dated 25/03/2012 on 03/04/2012 in which service tax is to be paid by us.As last date for deposit of service tax is 31/3/2012, how entry will be passed in such case. 1) if i made entry on say 31/3/2012 than i have to pay interest on late deposit. 2) if i made entry after 31/3/2012 than rate of service tax 12.36 is applicable.What is correct course of action in this case.

What is NPA and please explain with example.

suppose i purchased fixed asset rs 100000 and received a CD PLAYER worth rs 2000 with it.what will be the journal entry