we are importing raw material against advance licence and we do export to clear the the export obligation against advance licence.suppose advance license obligation is not fully met

please even tell me,in case of DEPB

How shuold i value inventories at end of balance sheet date

Dear sir,
I need Reference books &its authors for the following Subjects :
1 Adavanced financial accounting
2 Managment accounting &its performance
3Auditing
Quantative methods
Sir pls send an adivce Towards the books &how to study over the subjects for Icwai june exam

Dear Members,

I have a query.

The query is as follows:

Many well known companies (E.g Tata Steel Ltd - Schedule 3: Interest (Page No 124 of the Annual report for the year ended 31.3.2007) in their Schedules forming part of the accounts show Interest paid Less Interest Received. Does this practice conform to Schedule VI to the Companies Act 1956? Or if ICAI has recommended this practice in any of its publications, if so where? ROC's are also raising this question?

Learned Club Members are requested to enlighten me on this practice.

S Venkatesh

how to do sales reconciliation

Hi all!

We are a ERP software development company started a year ago.We have now developed our base model.In this connection I would like to know as to how i should arrive at the product cost and how i should amortise the same over future years or whether i can expense the entire cost incurred for developing the ERP product as expenditure and write it off to the profit and loss account.

Kindly help me out with relevant provisions as per Co's Act and IT Act.

Hi all!

We are a ERP software development company started a year ago.We have now developed our base model.In this connection I would like to know as to how i should arrive at the product cost and how i should amortise the same over future years or whether i can expense the entire cost incurred for developing the ERP product as expenditure and write it off to the profit and loss account.

Kindly help me out with relevant provisions as per Co's Act and IT Act.

we have imported raw material and under ex bond we have sold to a party.. is local tax applicable on sales and wat is the accounting treatment?

Financial Assistance in the form of cash
(non -returnable) + agency service from a government fund to a private company for
office automation ( software installation).

We can account this cash as miscellaneous income in P& L A/c.

How we will account this income in other ways?

How it will b/f in the next fiscal year ?

( Not from Indian Govt. but from a middle east country ministry)

Who is the authorised person to make the property valuation report?

The property valuation report of an independent property valuer is acceptable to nationalised banks ?

What creteria using to find the current market value of land with / without buildings?

Sam Koshy

if any company has changed its accounting policy i.e. from wdv to straight line method on year end(31-03-2008) then whether loss on sale of machinary ,sold on 01-10-2007 & depriciation thereon is liable to change retrospectively or not, is retrospective change is required to be given on existing machine on year end only