Sir, I want to know how to show bribe money given to ministers for government contractors show in accounts..i mean in which expense head...or should we show it in accounts or not?

WHY IS AN INCRESE IN RESIDUAL VALUE AFTER REVALUATION NOT PERMITTED IN AS-26 BUT DECRESE PERMITTED

Dear Experts,

We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.

B/L date is 06.08.2011.

suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?

What period will be taken into account for calculating the int on bill disc.?

Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?

Waiting for ur reply....

Thanks in advance..
Regards,
Sushil.

A Fixed Asset was purchased for 100 last year on which accumulated depreciation at the beginning of year is 40/-. During the year 5/- was depreciated. Thereafter entire asset was sold for 14/-. How it will be presented in the Depreciation schedule?

Kindly show drawing a format.

In case you can't attach a template, pl tell me whether, -45/- (40+5) to be shown in current years depreciation adjustment (Main column Depreciation, Sub column Adjustment)? What will be gross block of Asset at the year end? Is it zero (100-1000)?

What will be depreciation balance at the year end? Is it zero (OB 40+Accumulation 5 - adjustment 45)?

What will be Net block at the year end?

A Fixed Asset was purchased for 100 last year on which accumulated depreciation at the beginning of year is 40/-. During the year 5/- was depreciated. Thereafter entire asset was sold for 14/-. How it will be presented in the Depreciation schedule?

Kindly show drawing a format.

In case you can't attach a template, pl tell me whether, -45/- (40+5) to be shown in current years depreciation adjustment (Main column Depreciation, Sub column Adjustment)? What will be gross block of Asset at the year end? Is it zero (100-1000)?

What will be depreciation balance at the year end? Is it zero (OB 40+Accumulation 5 - adjustment 45)?

What will be Net block at the year end?

Huge payment has been made to regulatory authority of a country for getting approval of a product to be sold in that country. This approval is towards getting approval of the product and also towards marketing the product in that country. This expenditure is incurred on every product the company intends to sell in the other country. Only after such approval the product can be sold on that country. Each Product has a life spam though the approval is for a lifetime. How should such Expenditure be treated.


1. Is it a Capital Expenditure or Revenue Exp?

2. If capital expenditure, will be an intangible asset?

3. If asset then shall it amortized over the life of the product



Please support your answers

Hi

What is the primary difference between GL and sub GL. How are same identified in ERP environment.

Is there any material i can read for an indepth understanding

Thanks and Regards

I am having Pvt. Ltd. Manufacturing company and constructed building and purchased machinery and other expenses incurred during 2010-11 but no commercial production only trial production. During 2011-12 only I started commercial production and sales invoice made. 1. I want to know whether I can prepare profit and loss account for 2010-11 which is loss. 2. Whether Depreciation can be calculated for 2010-11. 3. The trial production material can be taken as closing stock for 2010-11 in case if we prepare profit and loss.

Dear All,

Please help me out in knowing whether both SLM and WDV method for different units under the same company can be followed. Suppose for Furniture and Fixure it is using WDV for one unit and SLM for the other(under the Companies Act).

1. What is the limit for a Partner to introduce Capital in Cash?

2. Can a partner introduce his fixed Assets like laptop, vehicle, mobile etc. as a capital of firm. if yes then what proofs are necessary.

Thanks'