Why do we need to create provision for obsolete stock? is it mandatory or management discretion? Many products are lying in stock for morethan 3 years but still it can be saleable and usable condition... If we make a provision for obsolete stock, what would be the actual effect on business?

Can anyone please explain the concept of provision for obsolete stock?

Hi,

Wha is the difference between lease hold improvement and furniture and fixtures.


Sincce both made of variety of large equipments. While coding such invoice, can we create single asset code for all the equipments.

Thanks in advance.

Hi,

Warranty on CAPEX items shall be capitalized or not.

If no why and if yes how.

Thanks in advance.

when a car is purchased in personal name of a director in a pvt ltd company and the car is used for both office and personal use. can the company claim depreciation for the car's official use?
if a business man purchases a car and uses for both office and personal use,can he claim depreciation for the official use?

I want to ask whether a new format is provided by BSE now days for submission of result for the quarter ended 31.3.2012 as per revised schedule vi.

Dear experts ,

in this f/y 2011-2012 , this is the leap year and total no of days is 366 , so that my query is about how many days we will take for calculation of depreciation as per companies act. so please answer my query with proper supporting. either we take 366 days or 365 days.

Thanks in advance

what will be the entry in P/L A/c nd Bal Sheet for "dividend recd on investment less 22% tax"...

what is dr. or cr. note? does always seller sent cr. note?

can any 1 provide me detail explanation about changes in schedule VI

or provide a comparative study on new vs old schedule VI

or any other matter related with dat.

Dear All

we are a trding company in india and our maker from japan sold a machine to customer in india. but after some time ther was some problem with the said machine due to mishandling and as we were mediator for deal the repair responsibility is our.

To repair the machine we hired two engineers from Japan and their expenses are born by us and nothing charged to our customer.

so could you help me how is the transaction treated for Air Ticket & Hotel Expenses of Engieenrs.

Bhoop Singh