Dear sir
will you tell me about depreciation
what is depreciation? and depreciation is loss or expenses and why?

Dear all,

how to add commodity name in tally,

wen we create new item in tally at there in head tax information tally ask about commodity name and that name show in 201 c (stock statement in GVAT) for that item..and some items are not covered in that default list....

please help me in this matter.....

please inform me how many ledgers to be created when we deal n VAT, & under whch head

IS RESERVE FOR BAD DEBTS AN ASSET?

Hi,

Please give your comments and suggestions for the case given below:


A company is preparing its financials for the first year. They have not commenced operations yet. Therefore the company is proposing to capitalize its expenses as pre-operative expenses to be written off from the year of commencement of operations. All expenses including depreciation on fixed assets is transferred to pre-operative expenses under miscellaneous expenditure. The company will not have Profit & Loss Account for the year.

Deferred taxation effect is not arising here. This will be considered with retrospective effect from the year of commencement of operations.

Is this procedure correct.

A pvt ltd company has 5 crore authorised share capital.The copmany has 2 crore paidup capital. during the year company has recd 9.41 crore as share application.but company has not increased its authorised capital. They have argued that they will increase share capital to extent 4cr and rest will be security primium. Is this action ok or not pls do reply

Our company deals in mining. it has mines in Orissa and registered office in Kolkata. My query to experts is how to calculate the cost of iron ore extracted. there are various type of material i.e iron ore fines, crushed ore, lump etc.which items should be included to gain cost.

sir we have booked excess bonus of rs 40000/-in f.y 2010-2011.now tell me can we written off this amt in f.y 2011-2012.if yes what will be accounting entry.

Sir/Maam
plzz provide me the export & Import procedure along with the accounting treatment............

please provide me the the procedure and account for letter of credit in case of import as well in case of export................