I want to know about sales in transit transection. Let me know when any deler who is in culcutta purchase from Hyderabad and sales in Maharashtra then whats the process for sales in transit. there goods should be enter in to culcutta or it can directly sent to maharashtra. who can issue form "C' and "E1". What invoice should raised by the culcutta dealer to the user(maharashtra) & what breakup he will give in invoice, i.e.- basic, excise duty & cst, ect.

what is difference between fund, provision and reserve. Give accounting treatment of any fund which is create for purchase of Assets.

Why is capital written on liability side of balance sheet?
is it our liability ?
Specific ans with reasons

Is capital introduced in business our asset or liability?
Why?

Dictinary meaning of word equity is value of shares then why
Aggregate value of assets - Aggregate value of liabilities = Equity?

As provisions are made on estimated basis they are not accurate. I want to know whether the year end provision is to be reversed in the next year or the bills are to booked against them.

Also as TDS is also applicable on provisions then how to make their payment.

Plz tell about treatment of revaluation reserve, & uses of it

how to create partners remuneration account.

HAI SIR.
I AM GOING TO WRITE FINAL IN MAY 2011. IS IFRS WILL COMING TO OUR SYLABUS IN ACCOUNTS?

Dear Sir,
I am Accountant in an organisation in Delhi and also handles HR. I have opened the Salary Payable Ledger in the name of employees eg. Shantanu Mahato Salary A/c to keep record of each employees.At the last day of the month salary is booked to respective employees head and when payment is made the Employees Ledger is debited.

But somebody has told me that under GAAP the Ledger in the name of employees shall not be opened.

Is it true and if its true then where can I find this whole chapter regarding this issue.

Please help me.

Thanks