Sir/Madam,
Suppose a company XYZ ltd is covered in phase I of IFRS convergence it has to follow IFRS set from 1st April 2011. But do they need to also change the financial statements of previous year i.e 2010-11 for sake of comparative? Please give me details as I am confused on this point.

dear all,

please share your knowledge on the share capital, what is authorised share capital? is it a combination of both equity and preference share capital? what are the various types of equity?

what is share application money and share allotment money

Suppose one party, i.e.individual , imports goods from foreign party and make advance payment for the purchased goods. goods are placed on ship on 25/3/2011 and it will be received by us on 10/4/2011. Risk & property in the goods are transfered to us.
wheather this purchase included or not in the fina yr 2010-11 or not as per AS-9 "REvenue recognition" or AS 9 only apply in for sales ?
pls give reply me?

can someone provide me icwa intermediate solved test papers? plz upload the same.test paper which is required to sent for coaching completion.......

Dear Sir,

please tell me how to prepare balance sheet and how to finalise it .suggest me which book i should buy to learn about balance sheet.


regards,

avinash.

We purchased a furniture before 1992 & rate of depreciation was 3.34%(slm).
In 1993-94 the depreciation rate as per companies act changed to 6.33%(slm).
Now which rate I have to apply to the old assets?
The same category of new assets we are applying 6.33%, and old asset we applied old rate ie.,3.34%.
Whether it is correct ?
Pls reply fast..

provision for tax 50000
tax liablity 50000
advance tax 50000

what would journal entry? how we will set off everything?

please tell me what will be the journal entry for stale cheque

Should we take sales above rs. 50 crores including excise & vat or not ????????????