sir
x co. have 100% honkong subsy. now, subsy has calender year as thier f.y. and x co. has apr to march as their f.y.. how to prepare consolidated financial statement. please advise

Dear Experts,
Is it necessary to pass tds receivable entry in the accounts of a proprietor?

If yes, than how the entry should be passed considering the fact that all the receipts are cash/bank receipts. In other words there are no debtors in books, than which account should be credited?

And Under which head tds receivable should be shown in tally i.e current assets or capital accounts?
Kindly clarify. Thanks in advance.

What is intrinsic value

hii experts,

my company has purchased an old machine from foreign country as on 24.01.2012 for EURO 70000 and we capitalized this machinery as on 15.04.2012 and payment of it has not made yet..so what should be the treatment of exchange fluctuation as on 31-3-2013...exchange fluctuation should be capitalized or not.

What is the authority level in deciding conflict between Accounting Standards and Companies Act 1956 ????

Dear Sir,

Please help me on a query of TDS deducted on Provision.
on 31 Mar 2013, we have deducted TDS on provision of Audit Fees by Debiting Audit fees expenses & crediting TDS account and Provision account. TDS is deposited with Department. Now I would like to know how do we reverse this transaction in books in April 2013. Also please let me know how to adjust TDS when we will get the original bill as TDS is already deducted & deposited with Govt.
Hoping for quick solution.

Regards
Rakesh

Hai all..
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.

A company has created a provision for expenditure in last 4 financial years . In current financial year it comes to know that there was no need to create provision for that expenditure at all as it was not applicable to the company. Now the whole provision created in last 4 years have been written back. Whether this write back income is prior period or not?

A firm sells its property of book value 200000, wdv 10000 for 400000 and buys another property of same value.Capital of two partners 220000/-.How to adjust gains on sale of asset. The wdv shall have no effect as per income tax, but how to adjust in financial statements.Should gains be carried to Capital a/cs and show asset at new purchase value?Please comment.

whether AS-7 applicable to construction contractor only? or it is applicable to electrical contractor also.