A company XLtd is a Sec 25 company engaged in Scientific research. As per the terms with one of the foreign agency, it received USD 500,000/- for research works. 80% of this i.e. USD 400,000/- is to be transferred to organizations in other countries for research. As on 31.03.2012, the USD 400,000/- is remaining undisbursed in the accounts of X Ltd.
As per the provisions of AS 11, the amt outstanding in USD is to be re-instated using the exchange rate as on 31.03.2012. Is it to be done in this case also?
IF yes, how should the profit/loss on this to be recognised? Will it to be credited to the P&L of the company?
Is it a loss/profit arising out of the company's business?
Under which head should this USD 400000/- to be stated in the Balance Sheet, as it is held under trust?

Respected Experts,
Pls advise whether rounding off is complusorily required in revised sch vi, whether it is applicable to small pvt.ltd companies also?

tell me what is asset tracking

Dear Friends,
I want to know about what is the Head of Account in Tally for Foreign Exchange gain is it "Indirect income". and then Foreign Exchange Loss is it "Indirect Expense"

OR
Foreign Exchange gain / Loss and the Head of account - Indirect Expense

Please tell me the answer.

Dear Sir /Madam,

We applied for vehicle insurance claim of rs.12550/- but insurance company pass our claim rs.6663/- then how we put entry in tally.

Dear Experts

How to prepare Stock statement and what is the use of it.

when we prepare Stock statement ?

what are the key observations (Bankers point of view) in Stock statement.

How to increase working capital using stock statement.

Please provide complete information relating to stock statement.

Thanks & Regards

Iam currently doing an audit , where they have trucks of which WDV has become nil , but still in use. IS it necessary to reflect 5% of residual value in balance sheet and carry forward even if it has become nil

My frnd have business of computer software nd maintenance nd supply of comp. hardware having turnover around 10 to 15 lacs. They deal in govt tenders relatd with above work, their bills clear sometime later, as its a work of govt. So what type of books of accounts should they adopt either cash basis or accrual basis???? pls pls pls rep...

Whether upgradation of Operating System to the latest version is Capital Expenditure & added to the existing value of Fixed Assets?

Further whether purchase of RAM for existing computers is Capital Expenditure?

Pl advice.

Plz send me TDS rate chart for Financial year 12-13 : assessment year 13-14.