I faced following issue in audits-
Private ltd.Company has sold fixed assets in FY 12-13.Profit on sale is credited to P & L A/c.My query is whether profit in excess of original cost should be credited to capital reserves?AS 10 and AS 5 requires same to be disclosed under P&L. Guidance note on terms used in Financial statement issued by icai describes reserve not available for distribution.In light of above whether treatment given by Company is right?

what will be the effect if debtors balance and creditors balance not to be taken in balance sheet. ....PCC NOV 2001

land is not a fixed assets but many ca take it on the fixed assets where should I take it on the balance sheet

Reverse charge machanism on transportation exp. wha t is it?

I want to know the period of getting rgstrd in another ca firm after taking transfr from my first firm...Actually i got regstrd in my first after on 29 april..and now m taking transfr from there...Bt one of my frnd told me that i hv to rgstrd by next day of my transfr date.. Is he right ?plz suggest mee

Which of the following errors will cause the trial balance to be out of balance?
a.) A debit to an incorrect expense account.
b.) A credit to an expense account instead of an income account.
c.) A credit to an income account instead of an expense account.
d.) A credit to an asset account instead of a debit to a liability account.

tips to clear cpt .pleasw help i dont have math in 12 class

How can pass Entry when Company deduct sum amount from employees wages for Travelling facility Provide by Company?
Exm : Employee(xyz) Wages
Payment Rs. 12000
deduction Rs. - 1500(Esic/Pf /PT etc.)
deduction Rs. -500 (Travelling Charge is COMPANY Income)
Net Payable Rs. =10000

i am a student from nepal. can i do my articleship from nepal? will it be valid if i do my articleship under ca having membership under icai but working in nepal?

pls help me about revised schedule vi applicable for ipcc students.