Hi
I m Ali, I m working as as accountant in Gulf since 6 months. I hold an MBA degree in finance as major and marketing as minor. I have completed a course in SAP (Fi/Co). I had worked as Customer Service officer in icici Direct for 30 months.
my question, is it for an MBA possible to grow in accounts field.
please help me and what major steps should i take to make my future bright.
suggestions.

A Company is not having sufficient revenue for giving arrears of salary but it has huge balance in general reserves.

Method 1:
Can it debit General Reserve directly

Method 2:
or the arrears of salary has to pass through P&L A/c only and later on debit balance in Accmuluated P&L is set-off against General Reserves. In that case, P&L will show a loss but if former is the case, P&L will continue showing profit.

Personally, i think method 2 only is allowed as arrears of salary is an expenditure and has to be matched against revenue to find out Net Profit in spirit of AS 5.
Though company is insisting on method 1, Can it be allowed?

Dear Sir,

A company who want to wind up its affairs has nil liabilities (except shareholders capital) but however it has income tax refund pending for earliers years with the IT Department. Can the Co. procced for wind up u/s 560 showing the refund due in its Balance Sheet or is it possible that the refund can be issued in the name of shareholders. Plz advice

Thanks and regards
Minita

sppouse we install machinery on 31 march than we able to charge one day dep. on that on that machinery

Can any tell me on what basis Serial Episodes should be valued for Work In Progrss as on 31 st mar,2009?

what should be accounting treatment if goods are purchased with vat/cst and same amount of vat/cst is shown as discount in the same invoice.
For eg...
Basic Price 100
CST 3
Total 103
Less
Discount 3
Net 100
The discount is not in the nature of Cash discount.... We cannot treat this discount as trade discount as well.. as it comes after vat/cst calculation... Please let me know the repurcusion at the time of sale tax assessment.

kindly let me know how to make entry of addition of existing asset in fixed asset register ?

what type of expenses are covered under the head travelling expenses in relation to a company

i want the provisions regarding signing of balance sheet by auditors. Is there any provision in the companies act, 1956 or not?

Pl confirm me asap

hello frnds
i hv a doubt which relates to refund of TDS.

The company paid TDS on commission payable to managing director subject to approval of shareholders in the month of March, 2008 ie FY 2007-08. The shareholders did not approve the payment of commission in the AGM held after the close of the year.
Can the company claim the refund of TDS amt paid???