what is the treatment of foreign exchange transaction? i face the following problem in my audit work please solve the problem...problem is "Company doing software work to foreign companies having only foreign receipts no other income,company raise invoice for one month (ex for the month of apr11 raised in may11) at exchange rate on the date of invoice raised.Foreign company directly deposited to our bank account(no detailes about amount relating to current bill or previous bill,at sme time no details about what exchange rates taken)(opening balance pending)"what is the exchange rate for determine exchange loss.
thanks & regards,

Dear Sir,

I have Pvt Ltd Company & in company two director & both have company share now company required more fund than company take fund form director huf as loan or issued share to huf

Should I declare non-depreciating assets - which are not related to my profession (washing machine, refrigerator etc) in my balance sheet?

Sir,
In an audit i came across the situation wherein a pvt. co. has incurred expenses after incorporation but before the commencement of production that embrace salary to staff,bank interest,rent and other expenses Rs.25,00,000.Accountant after the start of production has transferred the same to plant & machinery account.I've objected but i am confused as to under which head this should be capitalized.Given that the asset is not the qualifying asset & concern is a manufacturing entity.Please guide
In the given case there is neither any construction of asset nor the asset qualify for the borrowing cost purposes.The concern is cardinally engaged in the business of making mould of printing on iron shell.

PLEASE EXPLAIN DIFFERENT FORMULA TO CALCULATE CLOSING STOCK FOR BUINESS EG-OP STOCK 512703 SALE 8889273 PURCHASE 8228149 WHAT WILL BE CLOSING STOCK

Dear sir,

please provide me the depreciation rates of following assets.

Air Conditioner (Voltas)
Attendance Punch Machine
Computer
Data Processing Equipment
Epabx
Epabx(Md)
Eversoft Soft.(Thermax)
Fax Machine
Furniture & Fixtures
Hp Laserjet M1213Nf Printer
Hp Scanjet 8270
I10 - Magna (Gj6 Dg 1841)
Lcd Monitor (Viewsonic)
Office Equipments
Quick Heal (Software)
Refrigerator
Revolving Chair
Shredder
Software License Fees
Tally 9 (Lan Software)
Testing & Laboratory Equipments
Voltas Elite 1.5 Ton Ac
Water Purifier
Xerox Machine-Ricoh Mp2000L2
Zerox Machine - Digital Multi Function
Chair - Nilkamal
Fingerprint Time Attendence Machine
Sofa Set

sir, i want to know the depreciation calculation as per W.D.V. & S.L.M Methods for 2 years because of my doubt is which amount will taken as a opening balance& Closing Balance. kindly solve my doubt with example for 2 financial years

Thanking you sir,
yours faithfully

IF LOAN IS TAKEN FOR 5 LAKH @ 10%P.A AS ON 1-10-2010, AND IF ASSET FOR THE SAME IS ACQUIRED AS ON 1-11-2010 FOR RS 100000, THEN HOW MUCH AMOUNT OF INT TO BE CAPITALISED AND HOW MUCH SHOULD BE CHARGED TO P&L?

hi
please can any body clarify me the treatment of securities premium at the time of F\F of shares if the issue is oversubsribe premium is to be paid (1) 50% with application & remaining with allotment & allotee failed to pay allotment money(2) if entire premium is to be paid at the time of allotment & allotee fails to pay the say ...
x a holder applied for 1000 shares allotted 700 shares premium in case (1)apllication 4 includes 2 rs premium & allotmant 4 includes 2 rs premium fails to pay allotment
case 2 pays rs 4 on application includes premium of @2 & fails to pay allotment money@ rs 4 includes premium of @rs 2
thanks all for honouring the query...

Dear All,
I have a problem related to investment value in case of consolidation of accounts of subsidiaries. I am requesting to all of you, kindly give your valuable guidance and opinion for the same.


Facts:
X Ltd is presently holding company of Y Ltd. X Ltd have 100% share holding in Y Ltd. X Ltd. acquire shares of Y Ltd. as per the scheme of restructuring. As per the scheme all shares of Y Ltd. transferred to X Ltd. from its originally holding company Z Ltd. Z Ltd. acquired shares of Y Ltd. at face value at cost of Rs. 5 lacs. Whereas share of Y Ltd. transferred to X Ltd. by Ztd. without taking any purchase consideration.
Shares of Y Ltd. is unquoted.


Query:
My query is that in consolidation of account of X, What would be the investment value for shares of Y Ltd. And Any goodwill or capital reserve would be arise?