Please let me know any book or Web Site to update / to gain expertise in determining whether particular expenditure is of capital or revenue


I know the basic concept.I just want to update acadamically by studing case laws / example

As person has taken applied for leave encashment in the month of March-08, but has got sanctioned in the month of April-08 and payment was also disbursed in the April-08.

Now my question is that -

Whether it should be booked as liability in the month of March-08 by booking as expense for march-08, or it should be booked in the month of April-08 as expense.

If it booked it in the month of march-08, whether company is liable to deduct tax in the month of march-08 itself.

and finally, when it will be taxable in the hand of employee, in the previous year 2007-08, or in the previous year 2008-09

kindly reply.

What do we mean by Liaison office set up In India.Explain in detailed manner with example.

I have a querry , IT goes like this:

Can a company adopt a policy to write off all the fixed assets below 40000/- ? or whats the basis of fixing the materiality in writing off the Fixed assets and is it covered by any section under Companies Act

HI ALL

I AM 26 YEARS OLD HAVING 4.5 YR EXPERIENCE IN ACCCOUNT DIVISION OF 3 FINANCE COMPANIES.

MY PROFILE IS AS FOLLOE:

Ø Processing Salaries for the Regional staff i.e. Permanent & Temporary both.
Ø Cost Centre Accounting (CCA): Organization, Customizing and Maintenance.
Ø Preparation of accounting schedules required for accounts finalization.
Ø Preparing Bank Reconciliations Statement on daily basis.
Ø Payment & Reconciliation of ESI & Professional tax liabilities.
Ø Processing & Reconciliation of Petty Cash Account for the Entire region.
Ø Preparation of MIS reports to provide feedback to top management on financial performance.
Ø Preparation of P & L for Salary & Expenses.
Ø To keep watch on bank inflow & outflow, & accordingly make projection for next day.
Ø Verifying, Processing, & recording Travel advance requests, Employee claims, Payment requisitions.
Ø Expenses booking of all the Branches for the Entire region.
Ø Recording of routine accounting transactions in the accounting system, such as Cash, Bank & journals etc.
Ø Tracking the total outstanding of the company on a daily basis.
Ø Maintaining and monitoring of Fixed Assets Register.
Ø Looking after Full & final settlements of employee.
Ø Ensure timely payment to Vendors & landlords as per agreement or payment terms.
Ø Follow up with Bankers for reversal of Bank Charges and Interest charged.
Ø Ensure timely & accurate Closing of accounts by due dates.
Ø Coordinating with auditors for the Finance & Accounts Audits & solving their queries.


How much salary i am suppose to get in pune city ?

Please ans the following 1)whether goodwill is required to be calculated every year(assuming no change in % of holding) 2) For the purpose of calculation of goodwill, whether value of investment will be converted at closing exchange rate or it will be at purchase cost only(company having all foreign subsidiary). 3)if company puchased share in differnt date than how goodwill be calculated(assuming on the first acquisition holding subsidiary relation established)

As we have entered into a contract with canadian company for purchase of some spares, however, it remain unexcuted as on 31 march 2008.

So, we are showing it in the capital commitment amount in our note of account, my question is that at which exchange rate we should value the capital commitment - whether

exchange rate declared by excise and custom department on monthly basis.

or whether rate declared by R.B.I. on day to day basis.

Or in short, what AS-11 say in this regard




please refer some documentaty evidences in this regard also, if possible.

thanks

Sir,

I have receive the Professional bill for the month of March in April Dated April what entry should be passed in the books of accounts and Also i want to know when should i deduct the tds in the month of march or in the month of april 08

whatis the entryfor baddebts in consignor's and consignee's book when a)del credre commission is given b)when the same is not given

From our C.A. We received message that Online TDS Payment is Compulsory from 1st April'08.

But, due to some problems we unable to start netbanking facility(applied but not yet started).

Because of which we not yet paid TDS for March'08.

Now I want to know that, Can we make our pending TDS Payments for year 2007-08(March'08) now by Cheques or any other source?

Is there any penalty?