SIR, PLEASE SUGGEST ME WHAT ACCOUNTING ENTRY SHOULD BE PASS WHEN ANY ASSET IS NOT TAKEN OVER BY PURCHASING COMPANY...
REALISATION A/C DR..
TO,ASSEST A/C

BANK A/C DR..
TO,REALISATION A/C

OUR CLASS SIR SUGGEST THE ABOVE EFFECT FOR THE PROBLEM..
WHETHER THE ABOVE ALTERNATIVE IS CORRECT OR NOT...

Dear Expert's

i am involved in preparation of parties outstanding aging.but while performing this function i m little bit confused in weather to take original outstanding or to take outstanding based on revaluation(if it is a foreign party)

for an example:
Mr.XYZ outstanding as on 31st march
1.100(USD)x 45(Original rate)=4500
2.100(USD)x 46(revalued rate)=4600

now from the example please tell me which one i should consider 1 or 2 for aging

and also provide me some references from I GAAP and IFRS

wt is the account payble and account receivable

AN ASSOCIATION HAS TAKEN A RENTED PREMISES FOR THEIR WORKING AND INCUR HEAVY EXPENDITURE FOR RENOVATION AND DECORATION.THESE EXPENSES HAVE BEEN CAPITALISED.CAN DEPRECIATION BE CLAIMED ON IT?
THANK YOU.

Dear Sirs,

What is the difference between depreciation as per companies act and income tax act.

DEAR SIR,

I HAVE TAKEN PURCHASE BILL OF RS.115000/- FROM A FIRM AND PAYING REGULARLY THROUGH CASH PAYMENTS BELOW RS. 20000/- EACH.I WANT TO KNOW THAT ,THE CASH PURCHASE WILL BE DISALLOWED U/S 40 OR IS THERE ANY TDS LIABILITY.ALSO EXPLAIN THE RIGHT WAY TO DEAL WITH SUCH A TRANSACTION.

THANKS IN ADVANCE.

Is there any diffenance in Net worth & Capital employed? also tell me meaning of these two terms?

What are the entries to be passed for sale bill discounting.
1. Accounting the bill
2. Discounting the bill
3. Bank charges recording
4. When bill honoured
5. When bill not honoured.
6. When bill honoured lately.

Thanks for the experts who took time to read and guide.

Hi,

Is it possible to write off carried forward losses against revaluation reserve with HC order?

If yes, which AS speaks about it?

Dear Sir,
As per Para 41 of AS-27, When a Asset is transferred by a venturer to Joint venture, the gain or loss should be recognised which is attributable to interests of the other venturers.
Query:
1. Why the venturer should recognised the gain or loss which is attributable to other venturer?
2. what is the logic behind this approach?