Hi friends,

Can any one suggest me that "Audit fee" is a statutory liablity or not?
If its statutory liablity than it includes all fee like VAT audit fee,tax audit fee,consultancy fee etc...


thnx
Manish Pareek

Sir,
I have query regarding on entry of salary, the eg entry is as follows.

salaries to staff 10 Dr
salary payable 6 Cr
ESIC emplyees cont 1 Cr
PT payable 1 Cr
Mobile expense 1 Cr
recoveries from staff 1 Cr

my query is regarding crdit given to 'recoveries from staff' .this deduction from salary is on account of non performance of employess or any other reason .
After passing this entry 'recoveries from staff' will reflect on crdit side of P&L, will this is correct ?
Is I am passing correct entry ?, or there is any other possiblity or entry is available plz guide me & show me some eg entries.
- thanks

what is impairment of assets?

What is the meaning of constituent’s liabilities in banking accounts?

please clarify me.

Thanks in advance

whether in this exam i.e June 09 CA final exmas in audit will be asking AAS or the Standards on auditing newly came and also some of them are replaced I think 5 aas has replaced other are same but only name has changed so what should we do this revised one or old one's

Also newly added 3 other accounting standards whether they are applicable in this exam for final i.e on financial reporting

As per Accounting Standard 10, cost of fixed assets comprises purchase price & directly attributable cost. But in relation to construction of a project administrative and other general overhead expenses may be included.
My query is whether all kinds of administrative expenses (like printing & stationery or general expenses or salary to office staff etc)incurred in the corporate office can be capitalised?

is proposed dividend considedered as event accuring after balance sheet date as per AS 4 ?
It means it can be considered as contingent liability as it is only proposed by directors and it will be final after approval of share holder.i believe that proposed dividend is appropriation of profit of particular financial year.

Can you please suggest me a book for AS - PCC , I have a book from Mr Bhagwan Lal , but when I compared the same with that of Mr Praveen Sharma AS - Final it was exactly the same . please tell me a book from the examination point of view.

A Machinery was purchased which is not a qualifying asset as per AS 16. A loan was obtained to purchase the machinery. While the loan was obtained, Stamp Duty Charges were incurred.

Pls clarify whether the Stamp Duty Paid for obtaining loan can be capitalised?
or
stamp duty charges can be treated as borrowing costs and accordingly charged to P&L Account as the machinery is not a qualifying asset?

A Machinery was purchased which is not a qualifying asset as per AS 16. A loan was obtained to purchase the machinery. While the loan was obtained, Stamp Duty Charges were incurred.

Pls clarify whether the Stamp Duty Paid for obtaining loan can be capitalised?
or
stamp duty charges can be treated as borrowing costs and accordingly charged to P&L Account as the machinery is not a qualifying asset?