Sir,

could you please explain to me LIFO & FIFO methods of stock valuation with examples

Sir,

could you please explain to me LIFO & FIFO methods of stock valuation with examples

What is meant by parking account? What role does it have in bank accounting?

Sir,

We have salvaged a mobile purchased in 2006-07. Purchase cost was Rs. 5449/- & salvage value is Rs. 500/-

How to treat the depreciation / loss / salvage value in both IT Act & Co's Act.

This is urgent.

Thanks

Subhash

Dear Experts,

I m activated feature in Tally INTEGRATE ACCOUNT WITH INVENTORY.

I want to change value of closing stock.

How can i do this. please advice

Dear Sir/ Madam
I want explain my query by following illustration
I purchase cement form A amounting Rs. 100000, and paid Rs. 2000 for freight to transporter B and also paid Rs. 500. For loading unloading to labour. Total cost of cement is come to Rs. 102500 but when I make entry in tally of above transaction in this manner (i) I use purchase voucher for entry of first Transaction Crediting Vender and Debiting Purchase A/C by Rs. 100000/- and (ii) used payment voucher for entry of freight , loading and loading . But my problem is the cost of Cement hit in the inventory is Rs. 100000/- only instead of Rs. 102500. I want to know, is there any other way to make this entry to stay away from this problem.

Thanks and regard

During the year a company has become subsidiary from JV. As on March it is subsidiary
How should the transactions be recognised as per related party.
Whether it should be shown partly in JV and partly in subsidiary or fully in subsidiary.

If suppose ,one companies income tax provison working comes to 25,00,000

advance tax - 10,00,000
TDS -5,00,000
Self assesment tax payable - 10,00,000.

Please tell me all the accounting entries to passed for provision of income tax.

Whether the advance tax and TDS is to be brought back together in provision account?

Or
Advance tax and tds is to be shown seperate in asset side. And the grouping of provsion is to be done under the assets side. Say a group Taxation provision consist of Advance tax ledger,TDS and Provison.In this case no need to be net off.But whether this is OK.Please clarify.

hi, i wish to know which accounting standards (AS) are important from exam point of view for PCC Nov'09? Also plz refer some good books for the same which can help me in preparing for the AS (both theory and practical)

regards
amita

our firm is partner ship firm the partners have withdran 50000.00from firm and made fd in their names.Bank has given the firm loan against 50000.00 fd.

should i account the laon as capital brought by partner OR loan under liablity