If an LC arrangement has been entered into with a bank for import payments. when should the purchases (import) be booked in the accounts. i.e. on the date of payment release by the bank or on the date when goods are loaded in India.
Contract terms are FOR Indian Border

Can someone explain me the COGS concept. ERP like Oracle Apps and few others follow the COGS Concept while accounting. Inorder to make accounts as per the New Schedule VI, how will Purchases be calculated?

Dear All,
We pays certain amount towards software for a particular year for ex. Rs. 10K for Tally subscription for year, Rs. 50k towards visual impex renewal for year.

I am of the view that as these amount we are paying for a particular year so it shoul be W/o & not capitalised.

Pls explain as per Accounting Standard correct treatment if i my view is not correct.

Thanks

Raj

We purchase our raw material from out of state in which cst is involved. Is it the part of the cost of raw material or not.

What is differences between Projected & Estimated. On which basis Estimated & Projected Balance sheet and Profit & Loss account are prepared?

Sir i Have doubt regarding treatment of goodwill already exiting in balance sheet at the date of computing capital employed. Here goodwill because of cost of control. will it be subtracted in computing the capital employed

private company has given a loan of Rs. 25 Lakhs to directors holding shares more than 10%.
As per section 2 (22) (e) of IT Act, it is treated as deemed dividend.
Now kindly suggest accounting of deemed dividend and whether the said deemed dividend can be adjusted against loan given to director.

why is adjustments in final accounts? why are the items given in trial balance required to be recorded only once in the final accounts?

Dear Sir/ Madam,

You are requested to provide a MIS Report format (Monthly). I am an accountant at Building Infra Project. i want a Excel file for report totaly account status of project. ie. over head expenses, creditors lib. and debit report. etc.


With Regards
Deepak Singh
deepak_pcit@indiatimes.com
Mo-9310982071

sir,
i am ipcc student giving may 2012 attempt,
from where to study revised shedule VI and problems.