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Dear Experts,
Please guide me on following.
If the goods are despatched on 30.3.2013 challan date is 30.3.2013 but the bill date is 12.04.2013 whether the income would be recognised in the f.y.12-13 or f.y.13-14.

In a company. Wrongly i had left a electricity bill for Rs. 10000 approx. Can i take this into current year books.

Need direction

what is basic difference between capital and revenue expenditure,deferred revenue exp. and how to audit for the same..fetching suitable example will be helpful.

Sir,
Our company purchased a land value of land as per sale deed Rs.3,00,000 value paid more than the deed value Rs.3,00,000 No document for the excess payment.
1) how should we account the excess paid amount
2)Any service tax , Incometax implications?
Please clarify if the excess is accounted as goodwill payment.

If a company has 2 units, and only one bank account of 1 unit, 2nd unit has no bank account, only one bank account pay and receive, then how to show payment and and reciepts of 2nd units expenses and incomes, which is recieve and paid by 1st unit..?

Till last year, we were treating all the purchases as expenses, and no inventories were identified.
From this year, we are planning to introduce inventory (opening and closing).
How can I do it (Opening and Closing)
What are the entries to be passed?
Is there any reversal required in the next year?
Last year's accounts are finalised and signed, no inventory is provided in books and statements. But actual physical inventory is there. I know, this is a wrong treatment.
Pls advise.
Thanks in advance

a power generating company had purchased a software in the year 2012 for it's new project. project will be completed on June 2014 but the software is being in use already and also it will be used after the commissioning of project. after incurring all the necessary expenditures the cost of project will be capitalized. what is the accounting treatment of that software at the time pf purchase and at the time of capitalization of the new project. after the commissioning of new project it will become a separate identity.

What is the difference between "Marginal Costing" and "Absorption Costing"?

what is ment by capital reserve