Hi,

I received one USD invoice for USD1000 in the month of Sep 2011 (USD RATE 45), invoice dated March 11.

I am going to pay the vendor on Oct 11 (USD rate 46)

There is the different in USD rates.

What was the entry and adjustment I have to pass?

ABC Ltd Purchase Plant & Machinery from USA
on 10/6/2010 @ USD-48=RS.1 at UDS-1000
On march 31 there is outstanding of UDS 400
and the rate USD-49=RS.1
how this will be reflect in balance sheet and P&L
Pls clearfy me the all effect

relpy

How to account for sale of fixed assets under Companies act and Income tax act??
Considering book value, cost profit /loss and all

What is treatment for Purchase of Fixed assets in foreign exchange in following situation

1.During the FY
2.On 31/3/2011

urgent

We have made payment in the month of feb'10 but we have forgot to book invoice before 31st march 2011, we submit balance sheet . for current year what is accounting effect . Amt is below 30000 It is professional fees.
Kindly please reply ?

Dear Expert,

Our firm wants to maintain fixed asset register from this year. How to maintain fixed asset register format? Can u give me format of fixed asset register?

How to incorporate the assets purchased in last few years in Fixed asset register?

How to capitalise the expenditure incurred on publishing books on various types?
how to present in Balance sheet?

How to w/off over the period of year?
for that what are the standard crietria to decide ?

see,there are many exp eg.amt paid on content writing,cover page,editing etc this are exp are one time before publishing,then how to show in accounts?

if cash receipt issue in a location where cash book not maint (like branch and zone office), cash book and account update after issue of cash receipt date,because cash book closed daily and receipt & money comes late what is right way

If as on 31.03.2010

W.D.V , Depreciation
As per Co Act 490288, 86502


As per IT Act 495304 , 89390


OB DT ASSTS as on 01.04.2009 Rs. 242/-


WHAT AMT PROVISION TO MAKE (WHETHER DTA OR DTL )FOR

PROFIT AND LOSS A/C AND what will be WDV AS ON

31.03.2010.

Kindly explain me the areas where there will be main impact of Exchange rates while making accounts for enterprise having export&imports..
for example if a company having business in Singapore buys from Europe and USA- Company will account in SGD(Singapore dollar but payments will be according to specific currency of the party..
So it will show difference in ledger because of exchange rate..
Kindly explain impact and advantage