Depreciation is to be charged at flat rate as per companies act.Is it correct?but however as per guidance note on depreciation "assets newly acquired,assets sold during the year & financial year with period leass than year" it is to be calculated on prorata basis.Finally the total effect become proportionate basis but not on flat rate?Plz clarify if my understanding is incorrect

Which Agency (ICAI / ICWAI / KPMG / ACCA ) certification for IFRS will be best acceptable in INDIA.

can i capitalised repairing exps of car after four year of purchase?

SIR PLEASE I WANT DSCR FORMULAS IN EXCEL SHEET

Dear Sir,

We have Purchased machinery form china and paid Import duty. can i taken credit in regular register of RG-23 C Part-II ???

Kindly help.

Thanks & Regards,

Rajendra

What should be the basis for allocation of pre-operative expenses at the time of first time capitalisation.

1. Total expenses incurred on accrual basis
2. Cash expenses incurred (total exp-creditors)
3. Total expenses+allocated interest on term loan taken for the purpose of capital expenses
4. Any other basis if any.

A co. has received a bill of professional fee of Rs.200000 and TDS is to be deducted @10% i.e. Rs.20000 and balance payment is to be made for Rs.180000.
I have made following entry:-
Professional fee Dr.200000
To TDS payable 20000
To Party 180000
whether this entry is wrong?

i need a project report for bank loan to a newly establish educational institution incorporated under companies act. pls provide me the full format of project report in excel as well as guideline.

Sir,
The instance is
1. Advance Amount paid to Annual Maintenance Contract (AMC)
2. Contract period is 01.05.11 to 30.04.12
3. Amount paid Rs 12 lakh(100%) on 01.07.11
4. Now, Expense should be debited from july 2011 to April 2012?
OR
May 2011 to April 2012 ( Rs 1 lakh each)?

WHAT IS DEBIT NOTE AND CREDIT NOTE IN DETAIL WITH EXAMPLE