in trading & P&L do we always take goods sent to branch,closing stock at cost??in some question i found Goods sent to branch,closing stock were at CP whereas in some que they were at Invoice price..even in former case it was given that head office send goods to branch at cost + X% profit?
kindly elaborate

I transfer stock at cost of 2000/- to branch. Now branch sold 1040/- (1000 item cost + 40 Vat). They send sales invoice & Cash to head office.
what all entry done at head office.

is it correct to say that if nothing is mentioned in the question about stock that whether is it at IP(Invoice Price) or CP(COST PRICE) then we always take it at CP always?

but if opening stock is given at IP then what shall be assumed for closing stock if nothing is mentioned for closing stock... or vice versa??

can anyone help me?
i m goin to appear in dec-10 of c.s executive program and still i'm confused that how to prepare for paper-2 i.e company accounts and cost accounts..plzz sugest me refernce book ...plz..

hello everybody

can any one give me formula to calculate EMI on loan with examples

Hi,

Can anybody explain step by step to make the service tax payment.

Thanks in advance.

Sir,
i have a query regarding valuation of shares.
i know shares are valued at market price or purchase price, which ever is lower..
But this is a year end entry...
Now suppose if i buy 20 share of jain ltd for Rs. 1000 and after few days i again purchase 10 share for Rs. 1500 and then i Sell 20 shares for Rs. 1800.. then how much profit should i book in my books... is there any subscribed method like fifo or average....
please suggest... and if possible then please assist me with some guidence note or accounting standard... my email id is abhishekdugar2202@gmail.com
Thankyou

Dear Experts,
i could not clear group in ICWAI FINAL(OLD SYLLABUS) but i got 59 marks in cost audit and management audit paper. Miss by one mark to avail exemption for next term.

now my question is
Q-1 Should i go for rechecking?If yes, than what is the procedure?

Q-2 how much fees per paper for paper rechecking?

please guide on this.thanks

Can anyone pls tell me what is the difference between invoice parking and invoice posting?

On what basis do you apportion selling expenses?
time basis or sales basis?
because in the IPCC november 2009 solutions it is given time basis. but in the text book it has been said that any expenses related to sales should be apportioned on sales basis. what is the correct method?