I have a query as to when a Bill should be recorded in the Books of Accounts.

Example:
Bill Received on 01/12/2016
Bill approved by CFO on 01/01/2017
Payment made on 01/02/2017.

sir,for valuing goodwill by super profit method icai in the pm sometimes uses average capital employed and sometimes closing capital employed.is there a pattern?

I had Purchased a Motor Cycle in 2014-15 in my personal Name. How will I show the Depreciation in Profit & Loss Account, and Balance Sheet. Will it effect my Computation Sheet.

Consider 3 scenario as below:

1) Invoice raised on 1MAR2016 for the services rendered for the period 1Feb16-28Feb16. Payment received on 3APR2016.
2) Invoice raised on 31MAR2016 for the services rendered for the period 1Mar16-31Mar16. Payment received on 20APR2016.
3) Invoice raised on 1APR2016 for the services rendered for the period 1Mar16-31Mar16. Payment received on 20APR2016.

Which financial year above transaction 1, 2 and 3 falls into ? 2015-16 or 2016-17 ?

firm's balance sheet can be consolidated with companies????

Dear Expert,

I would like to know the applicability of IND AS for the company having net worth less than 20 crore? From which year, it will be applicable or fall under IND AS?





Thanks is advance.

Is Ind AS applicable for May 2017 IPCC exams? If Yes then, where from we can study about it and please also tell about Accounting Standards are applicable or not after Ind AS in May 17 exam.

I want to know about the convergence of Ind AS and IFRS

Hi.. give me idea about IPCC exam question paper pattern and how should want to answer.. Is this similar to degree or what.....? plz help me...

Dear All An automobile workshop company provides AMC facility to its customer. The company charges an anuual fee from customer and provides free of cost services to its customers. The customer paid fees for the period Feb 1, 2017 to Jan 31, 2018. Books are closed on March 31 every year.

Questions:

1. Should the company recongnise the income for only 2 months during FY 2016-17 and treat the amount received for another 10 months as deferred income?

2. How should the billing for free of cost services be done in the books and how should the accounting entries be passed?

Any help in this regard is highly appreciated. Thanks