balance of the petty cash book is an asset or an income

Hi,

Please clarify whether a change in assets in laibilities between two yerars can be entered in a cash flow statement. To my mind, CAsh flow should contain the sources & application of funds in a year. The change in the assets & liabilities comes in a Fund Flow. Please clarify.

If cash system of accounting is used and for any fixed assets purchased 80% payment is made and balance 20% amount is retained as retention money. In that case fixed assets should be Capitalised at 80% Valaue or 100% Value.


Thanks in Advance.

What decides, where will excel sheet containing tally export data be produced and how can we change destination to get the sheet produced at a place as per our convinience?

Hi Friends,

a piping contractor in tax audit ac asset is sold from the balance sheet ac the Profit of Loss calculated is after dep. or No Dep.
Eg: Truck Rs.50000.00 Dt:1/4/2008 is sold in 30/9/2008 for Rs.60000.00 there is a profit of Rs.10,000.00 should dep charged for 6 month or for the year 12 months. Profit on asset sale under which A/c Group in Tally.

Regards

A Ltd company invest some Amount in developing Software, and they want to recognise the same as deferred revenue expenses please suggest whether they can do so, please give me reference of Company Act, Accounting Standard or IT act whichever is applicable

TDS & Sales Tax is already our Liabilities but i want know that We have to make Provision For the Month Of March Liabilities At year end ? Why

Respected Experts,

Our Company Imports Goods For which Customs Duty is Paid. How to Account for Payment For Customs Duty Please Pass the Entry with Example.?
Can Customs Duty paid be taken as CENVAT Credit??

Suppose a Private Limited Co. is having two Subsidiaries (wholly owned) and also the holding co. is a level one co.

Then plz let me know whether it is compulsory to prepare Consolidated accounts along with the standalone accounts of the holding Co.

if its not compulsory to prepare, why?

Dear all

Please give me knowledge about deferred exp

& give few exampal


urgent please