Hi Friends,
Pls gv me suggestion regarding the following queries:

1) When the export commission(expense for exporter) to be booked by exporter?

2) is it booked after BRC(Bank realisation certificate) received from bank or should be booked as and when export sales is done?

3)What should be the correct time to book the export commission as per AS-9?

4) As per the company policy(only in verbal form)the export commission to be booked after BRC receoved, is is correct?

pls reply me as soon as possible.

thank you in advance.

I paid the advance tax say Rs1,00,000 up to 31.03.09 but on my total liability comes to say Rs. 1,25,000 and accordingly I made provision for tax of Rs 1,25,000. I paid Rs. 25,000 as self assessment tax n 25.09.09 what entry will be made in accounts for self assessment tax. Can effect of this entry will come under B/Sheet as on 31.03.09?.

Please also tell how the payment of tax effects to profit and loss accounts.I am confused.Pls help.

CASE - THE COMPANY MADE RS 100000 PROVISION FOR THE PAYMENT TOWARDS LTA IN THE YEAR 2008-09. BUT IN THE CURRENT YEAR 2009-10 THE CO. BOOKED RS 150000 AS LTA EXPENSES RELATING TO 2008-09.

HOW IT WILL BE SHOWN UNDER BOOKS AND FINANCIAL STATEMENTS.
IS THE EXCESS PAYMENT OVER PROVISION WILL BE SHOWN UNDER PRIOR PERIOD EXPENSES IN THE P&L A/C.

AS AN AUDITORS SHOULD I QUALIFY THE REPORT.

PLEASE SUGGEST BOTH ACCOUNTS AND AUDIT PROSPECT OF THE CASE.

The balance of the debenture redemption reserve fund on redemption OF DEBENTURE is transferred to..........................

The compulsory termination of membership by way of penalty for non-payment of allotment & / or call money is known as......................................

If the price paid by the holding company for the shares acquired in the subsiduary company is more than the intrinsic value of the shares acquired, the difference is treated as.........................

Our company purchased some computers in $1500 on 01.01.2010. Converson rate on 01.01.10 was Rs. 46/- we paid $1500 on 20.01.2010. Rate on that date was rs. 47/-.

We booked in our books on 01.01.2010 as Fixed assets purchased for Rs. 69000 ($1500*46)so as creditors. and on 20.01.10 liability paid by Rs. 70500/- ($1500*47).

Now what will be the treatment of the differnce of Rs. 1500 as exchange loos?

Will it capitalised with assets or show under P/L A/c?

Hi,
I want to know the ESI % for employee and employer contribution and PF % and how topass accounting entries for the same in Tally.

PLEASE TELL ME WHAT IS DEFFERED TAX LIABILITY AND HOW IT IS SHOWN IN THE BOOKS OF THE COMPANY.

IS IT A PART OF THE PROVISION FOR INCOME TAX FOR THE CURRENT YEAR AND THAT TAX LABILITY FOR THE CURRENT YEAR WAS DEFFERED AND TO BE PAID INTHE FORTHCOMING YEAR AS LIKE DEFFERED REVENUE EXPENDITURE.

PLEASE GIVE ALL DETAILS.

I am auditing a charitable school?
1000 of student studing their?
Fees for the year 1000/ students?
50 Nos student being poor not charging fees?
100 Nos students paying half fee( ie 50%),because unale to collect?

How should account the above?
Should I accounts Cash basis Or accruel basis?
Pls advice on me about this?
Pls Specify the respective heads of accounts also?
What audit evidence should I collect?

Pls reply Urgently