Hi friends,

Can anyone tell where the text for IFRS and IAS are available. In the website, only the abridged version is available

Regards

V.S.Sugan

Hi

Ours is an service company, everymonth we will account some portion of work executed as Work in process. Now I need to bill the same. can any one guide how to account the sales bill and whether we need to reverese WIP account.

AT THE END OF Every month i will do the following entry

WORK IN PROGRESS DR
TO INCREASE OR DECREASE IN UNBILLED REVENUE CR

can any one clarifiy this .

my email id is vanee_ind@yahoo.co.in

With rgds
Vanee

It is help me CS Course with MBA Finance

Sir / Madam,

Pls tell me whether replacing of keyboard to be capitalised or it can be accounted as repairs and maintanance.

also provide me some referece supporting you view.

Regards,
Kavita

1) What is the difference between proforma invoice and invoice?



2) Can one book a transaction based on pro-forma invoice without asking for Invoice?



3)While booking imports transaction is it necessary to insist on original physical copy of the invoice or can one just rely on soft copy sent by mail and pass the entry.



Please answer the above questions separately in the order they are asked.



Thanks.

Dear Expert,

Please guide..

In many cases you donot know the account head to be used In a subsidery company ...
1) If expenses are made by director of the company like purchase of Laptop bag, water bottel & his mobile battery etc through his company credit card which account should it be debited to ?

2) DD made for acquiring IEC code which expense should be debited?

3) what is difference between Entertainment expense & Hotel loading & boarding.

4)what is difference between Filing fees & Rates & Taxes

Awaiting your valuable reply
Thanks & Regards
Ami

I want to know the treatment of interest received on FDR When the company is under operation and all revenue expenses is transferred to pre operative expenses head.
Is this income can be deducted from pre operative expenses head.

can business organisations take into consideration Interest on loan,for valuing inventory,paid for loan taken for meeting working capital requirement involving major item as stock as in case of sugar companies.
for example.. X ltd is a sugar manufacturing company and make its sales as per the demand required by the government.However production is done only for 4-5 months a year and as sales is as per the demand of government many a times it happens that there is huge shortage of funds for raw material i.e sugarcane,so they have taken loan on which interest is to be paid.Now can the co. take in to consideration this interest amount for valuing inventory.

If 100 % payment is made in advance against good imported,
is it that there will be no booking of foreign exchange gain/ loss ?

Also on what rate should the purchase booking on imports should be done ?
On the date of Bill of Lading or on the date of BIll of Entry ?
Also shud custom duty, C&F charges be debited to purchase a/c instead of their respective expense heads ?

Pls reply urgently

Please let me know that Why do we transfer the profit before incorporation to Capital Reserve account?What if there is a loss?