Dear All,

Please provide me guideline notes for deciding related party as per AS – 18, which is required to disclosed in balance sheet.

Thanks.

Pls advise on following case:
Background of Case:
X Company Pvt Ltd has a gratuity trust with their 3 employees as Trustee. Trust is register with CIT.
X co directly pays premium to LIC towards gratuity as per Actuarial valuation from LIC and debit it to P&L account.
X co make provision for gratuity liability as per actuarial valuation received from LIC.
On leaving of employee the Trust get the gratuity amount (say 100) from LIC and pay (say Rs.98) to respective employee.
Queries:
Accounting treatment given by company is correct?
Premium paid by X company to LIC towards gratuity can be shown as fund with LIC in the books of Trust?
Whether Trust is required to file IT return?
Below computation of income is correct?
Amount received for the purpose of Trust :100
Less: Set part 15% 15
Balance 85
Applied for purpose of trust 98
Loss to be carried forward (7)

Respected sir,

For Learning closing stock valuation which book do you suggest for beginners.

And if any web link of CAClub KIndly mention.

Thanks in Advance.

Meaning of DSPR

bank is saying you have to maintain avg. 1.8 DSPR to take loan

what is DSPR Means ?

pls advice

How to round up the amount in sale voucher in Tally ERP? Because voucher amount is Rs.633297.60/- & I want to round up 60 paise from the said amount.
Please tell me in detail.

i am preparing a Balance sheet in which op.bal.of deffered tax liability is standing of rs 10 lakhs.in current year there is also deffered tax liability.can we show merged figure (that is sum of 2 yrs)in balance sheet.or opening balance of deff.tax.liability should be added back in Reserve& surplus and only current years Deffered tax liability to be shown in Balance sheet. pls reply soon.

Hello

May anyone provide me details about IFRS

Introduction to IFRS
Applicability and all

Reply as soon as possib;e

Regards

Sumit Kumar

Sir/Madam,

Why we consider "Liquidation Expenses" paid by transferee company as GOODWILL in its account and not a preliminary expense...???

We pass this entry in its(Purchaser) book:-
Goodwill A/c......Dr.
To Bank A/c

Now I wanna know what's logic behind it works....???

or why we don't include such expenses paid in Purchase consideration....???

Q) WHICH OF THE FOLLOWING DO NOT CONSTITUTE INVENTORIES ?

a)stock for sale in ordinary business
b)stock for production
c)stock for services
d)stock for share trading


PLEASE !! GIVE ANSWER WITH EXAMPLE.

Why Closing Stock in spite of credit Balance Shown as a assets in Balance Sheet?
And if it is a assets then why we show it in Trading A/c!!
Plz explain the logic behind it!!! I'm confused abt it..