Sir,

Please tell me the difference in Mercentile System of Accounting & Accrual Basis of Accounting.

Regards

what do you mean by amortization of expense/income in accounts? Please explain.


Regards
Devendra

DEAR SIR
I TAKE ONE L/G FROM BANK RS.20000/- AND BANK DEDUCTED FROM US RS.21000/ AND MARGIN STATEMENT FROM BANK SHOWING RS.21000/- BUT L/G SHOWING ONLY RS.20000/-
SO THE ENTRY MUST BE

MARGIN ON GTEE DR RS.1000/-
L/G DR RS.20000/-

TO
BANK RS.21000/-
THIS ENTRY IS RIGHT OR NOT PLEASE HELP ME

DEAR SIR
HOW WE WILL CREATE PROV FOR BAD DEBTS PLEASE GIVE ME ONE EXAMPLE AND WHAT IS THE DIFF BETWEEN PROV FOR BAD DEBTS AND PROV FOR BAD & DOUBTFUL DEBTS

DEAR SIR
I MAKE INVOICE TO ONE CUSTOMER RS.1000/- AND THE CUSTOMER PAID TO ME RS.1100/- (ONLY ONE TRANSACTION IN THIS A/C,AND I DON'T WANT RETURN THIS AMT) HOW I WILL ADJUST THIS AMOUNT OF RS.100/- WHAT IS ENTRY PLEASE HELP ME

I have 2 doubts:
1)Why do we not do 'net of tax' to salvage value?
2)In questions of NPV, if there is additional investment made at the end of, say, the 5th year, then do we discount it with PV of 5th year or the 6th year?
According to me, it should be 6th year but the answer was 5th year so I'm confused.

Thanks a lot in advance.

Whether one time Road Tax and first year insurance premium paid on purchase of vehicle can be capitalised alongwith the cost of vehicle .

Sir,
Can i know how a BRS statement is prepared in normal cases & over draft also
please help

WHAT IS THE MEANING OF 'X'% ABOVE COST PRICE?

Dear Experts,

Kindly give some IFRS supporting for the capitalisation of expenses such as planning consultant's salary which are purely attributable to a specific project which will be commissioned in near future. Kindly let me know which IFRS deals with this issue.

Thanks,
Jithesh