Hi,
Please advise - Is it required that the Final Accounts of non profit religious institutions such as churches should be closed at a year ending date such as 31-12-2011 or FY - 31-03-2012.
If the previous year closing was done on 15/01/2011, then is it required that the next year closing should be done on 15/01/2012. OR Is it compulsory to close accounts at a year end such as 31/12/2011 or FY- 31/03/2012. Please advise.

Sir, I have a dought in my mind.
If a company is making export sale and recieves L/c from Buyer, L/c is discount from bank. Also a forward cover is taken.

I want to know the following:

1. How to make treatment of Forward Cover

2.At what value to Recognise The Sale Amount

3. Wheather the settlement of forward cover will have effect on sale value

4 Can we make following entry at the year end for forward cover gain

forward cover recievable dr.
to P&L A/c

Dear
Please tell me How many years should maintain books of accounts & related documents for Income Tax purpose ?

what entry should be in tally for provosion of income tax in Partner ship firm & Ltd company

i want to pass a same entry 100 times in tall 9. is there any shortcut to copy and paste in tally.
Plz reponse as u read

What Should be the treatment of the assets which has been fully depreciated but physically using in the business?Whether assets to be further revalued?
Plz reply !!!
Deepak

which exchange rate can be used for recording foreign transactions as per as 11?

our client using the cbec rate whihc incorrect, but how can i jusify the same with reference to as 11?

How to calculate machine Hour Rate For Manufacturing company

Also Give One Example Pls.......
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Thanks

Dear Experts,

I am teribally confuse about the closing stock entries passed in accounts. I have seen many small business houses entering closing stock amounts directly in a accounting software (i.e. without mainting any inventory records).

Can any body expalin me in detail how to account for clousing stocks in a proper way?

Thanks in advance.

We are the company importing goods from abroad. Now for the purpose of calculating foreign exchange loss/ profit, rate of exhange to be considred is whether as announced by CBDT for custom duty valuation purpose or as announced by RBI.