Hi,

Can anyone suggest the accounting entries for Finished Goods Destroyed by Fire during the year in the following example

- Value of FG Destroyed: 16 Lacs;
- Salvage Value : 2 Lacs;
- Insurance Claim Accepted & Receivable - 8 Lacs

When a bank deposit can be classified as investment.

Dear All,

I am working manufacturing unit, have Last years Balance sheet and half years result in hand.
I want to prepare projected financial statements for next six months.

Please guide me, how to prepare and how to use ratios for the same?

when to recognise export sales in Books of A/cs & at what value....

Date of provisional INvoice -08.08.2012
Date of Exchange control (LEO DATE)- 13.08.2012
Date of Export Invoice- 13.08.2012
Date of BOL- 19.08.2012

Dear sir,Iam a CA FINAL STUDENDT.I prepared balance sheet format for sec 25 co, and Educational Institute(Society) in Revised sch VI format. Is it correct or not? is any special format is there?In which format Educational Institute(Non company)should present its financial statements?

Dear Sir,
We have renewed Tally software Licence. Amt is Rs 7200/- Pls suggest where to book this exp.

Regards
Manish Kumar

Sir, I am an Ipcc student. I would like to know whether the revised schedule VI which is applicable for nov 2012 is applicable for finaancial statements in COST ACCOUNTS AND FM too..

please guide,
Thanks.

Hello Sir,
My client has a business of turn key project for which it is recognising the revenue as per the payment term in the contract. i.e if in the contract there is a term of Advance payment then it is reconising such advance receipt as a income. is it feasible??? how to recognise revenue at the end of the year if project is not completed?
I request you to give answer on the basis of IFRS.

Thanking You,
CA Hardik Thakkar

Hi All,

please suggest the Process which i need to follow process costing or Job costing.

we are manufacturers of Tipper and Mixer bodies. we have five process
1. Metal forming
2. Body fabrication
3. painting
5. Assembly
4. Quality & inspection
we prepare all parts individual and do assembly the parts final.

Q/ There are three worker ganesh,narayan,ram produced 80,100,120 piece of product X on particular day in may 2011 in a factory.the time allowed for 10 unit of product X is one hour and theire hourly rate is Rs4.calculate for each of the worker the following (1)Effective rate earning per hour under (a)Straight piece rate (b)halsey prenium plan (50% sharing) (C)Rowan premium plan