Plz tell me under which rule/GN/standard/compliance rent equalisation reserve is neccesary to create.

Dear Sir
Should we need to capitalize the following expenditure? or treat them as revenue cost?
a) land survey cost
b) cost of cutting raw jungle (useless vegetations) on land, before starting any construction.
c) amount paid to architect/structural consultant for preparing plans.
Pl. guide.

What it stands for me already aware..but what it incorporates in itself that's doubted..specially in relation to pharma sector...Also whether it is prepared for whole unit or department wise or cost center wise...

please helppppp



Manik Anand

Respected Freinds,

I am an accountant of a individual having business. My client has taken out 20 different LIC policies for which an annula premium of Rs. 200000 is being paid every year. 1) Can i show the premium paid on the asset side of the balance sheet policy wise thereby strenthning my balance sheet instead of debiting it to Capital Account?
2)Also since i have maintained business books and personal books seperately, where will the effect of such transaction come. Payment is made out of business funds.

A is awarded a contract from B and B have given same contract on back to back basis to us with an agreement that we will pay 5% on contract value to A. All the purchase invoice is in the name of A but we are issuing cheque on behalf of A. Can we book the purchase on our account? If no then what will be the treatment in the book of A and in the book of us.

Please help in this regard.

Sir, Can we treat the processing fee paid on loan taken for purchase of immovable property(more of land and less of building)and stamp duty charges for loan documentaion as revenue expenditure instead of adding it to value of property.Thanks in advance.

sir in AS 19 there is a concept called SALES N LEASE BACK OF ASSETS sir i have one doubt dat y vendor first sells n than he lease back is bcoz of urgent need of money or some thin else, i just want logic behind it

Dear All

Anybody have accounting entries process in respect of accounting of mutual fund.

plz forward it to me its urgent.

regards
Amit

What is the Difference between Accrued income and outstanding income?

Dear All,

One of my client (Gov. Company)received land as gift from a private company. the market value of the same were Rs.3 cr. the transaction taken place in the month of Oct'08.
still we are not accounted it. while finalising the accounts for the year 2009-10 the statutory auditors are says account the land with the market value. is it correct?
if correct what is the AS applicable?
and the where the credit will go?

IF it is not correct,

what is the correct treatment?
with AS reference