I am working in a Construction Company which has taken contract for Platform Construction including laying of railway line.As per contract with client for some items, which is to be used in construction work, 100% payment will be made against that after purchasing the same, but we have to give to the client indemnity bond against that.what will be the treatment for that payment, though actual stock is laying in our Store??
Plz. help...

Plz provide me examples of calculation of depreciation of each asset under Companies Act 2013

Income tax slabs current year

PLEASE LET ME KNOW WHICH SYSTEM OF DEP SHOULD BE ABSORBED STRAIGHT LINE OR WDV METHOD

What is the payroll entry for given detail?

Gross Salary - Rs. 10,000
Employer's PF Contribution - Rs. 2,000
Employee's PF Contribution - Rs. 1,000
TDS - Rs. 2,000

Hello!!I am a direct entry student and have just started with IPCC...I am going to give May 2016 Attempt....Can anyone suggest in what way should I start my preparation ?

In case of Depreciation as per Companies Act 2013, Sch II specifies the useful Life of all the assets and in case the actual Useful life exceed the life as per Sch II then we need to provide justification along with Technical advice. So, do we need a Certificate from Technical Experts certifying the useful life or just a disclosure in Significant Accounting Policy is Sufficient?

schedule 2 of the companies act applicable prospectively or retrospectively....in case of prospective effect then company should follow AS-6 or schedule 2 as the as-6 say change in accounting policy have retrospect effect???pls do needful as earliest..

I have to pass a journal entry where rent has to be adjusted from security money and tds also has to be deducted.

Rent is 51750/- and tds is 5175

My Query is:-
At the end of a financial year if any of expenses are outstanding(For Example Rent) then which of the following entry is correct?
1. Rent A/c
To Creditor A/c
2. Rent A/c
To Provision for Expenses A/c

Please also explain me when do we credit creditors account and when is provision for expenses account has to be credited at the year end.