what is MA and how to calculate it.

1) Is Statement of Comprehensive Income also an Account like P&L Account found in the General ledger which is debited or credited by means of closing/transfer Journal Entries for preparation of Annual statement of Accounts. I realise that P & L shown shown to the world ouside is the replica of the Ledger Account of the business Entity for all practical purposes. To elaborate, I wish to say as under.

1) P &L Account is debited and expense accounts are credited; income accounts are debited and P & L Account is credited in order to close the Income and expense accounts in the normal course, by means of a closing Journal entry, as a year end exercise. These are normally called Temporary Acounts. Permanent Accounts are not closed as they are carried forward year after year for being shown in the Balance sheet. For Example, Different type of Reserves, credit balance of P & L Account, Share Premium account.etc.
What JE is passed to close OCI Account? How AOCI account is reflected in balance sheet?
Is it the closing balan ce of AOCI Account that is shown in Balance sheet or different accounts entering the AOCI Accounts?

when residential property purchased by proprietor and Municipal tax paid by proprietor before residing , whether Municipal taxes paid should be capitalized.

Dear Experts
G Mrng all as we printed id cards & purchased rope for the same (with company name on rope). now the supplier provided bill for Rs 52,000 (for id Rs 2,500 for rope Rs 49500) and he is also a unregistered person. My question is does TDS applicable on the above or not. If applicable means, do I need to deduct 1% of TDS on rope cost or have to deduct on total bill value

in case of opportunity gain ie our decision regarding selection of alternatives was right we actually don't gain extra by that opportunity gain. is it the same for opportunity loss. is opportunity loss or gain acting as just an indicator that reflects our business decision

Can I book our company's director personal internet expenses in our books? If yes, please suggest entry for the same.

in case of opportunity gain ie our decision regarding selection of alternatives was right we actually don't gain extra by that opportunity gain. is it the same for opportunity loss. is opportunity loss or gain acting as just an indicator that reflects our business decision

Dear All,

Anybody having financial statements for australian accounts template in excel. Kindly share.

With Warm Regards,

Indian Partnership Act 1932 does not makes it clear about the number of years of rendition of accounts.How many years of accounts has to be submitted before the arbitrator in case of dissolution of an unregistered partnership firm? Is it eight assessment years as stated by the Income Tax Act?

why don't we charge interest for credit sales.
also salaries of a month are giving on the next month is it a loss to the employee as he loses his ability to earn income from such salary