Respected Experts

A company had taken 3 month Forwards Contract for $1000 on 1/11/2009 FC Rate 46.6 RBI on that date 46.2 and on 1/12/2009 another FC cover was taken (3 months )for $1000 the company paid the first amount $ 1000 on 1/2/2010..

Please show the Entry to passed on 1/2/2010
when ..

A company is in the process of contructing building of 20 floors. And 5 floors are almost completed and ready for its intended use.

My query is :-
1) can we do the partiall capitalisation for these 5 floors.?

2) Is there is any specific provision for the same in the Accounting standard?

3) If yes then what should be the basis for allocating the cost for these 5 floors?

Respected Sir,
shall be CCTV Camera affixed in the factory premises of the company depreciate?

In which group it will fall?

Wht will be the rate of depreciation as per Co. Act & Income Tax Act?

Hi, Experts,
We have a loan of 5 Milloin USD which was sanctioned on 1St April,2008, When the INR/USD rate was 44 Rs. So, it turns out to be 220 Million INR, loan. However the rate of exchange on 1st April,2009 was 48 INR/USD. So, it turns out ot be 240 Million Rs. loan. I would like to ask experts whether the interest rate differential wil be calculated, by comparing the interst of 5 million USD with 220 million INR or by comparing the interest of 5 Million USD with 240 Million INR.

Dear Sir
i want to know the accounting entry of problem given below

problem- we have sent 29.510 mt material sent to consignment agent but out of that 13.155 mt material stolen in transit.(Note - excise duty involved material)

Preliminary Expenses are Miscellaneous Assets they can not be said as Deffered Revenue Expenditure as no revenue is generated by the expense in any subsequent period then why do we w/off them yearly in accounts of a company (are they really considered as Deferred Revenue expenditure or they are w/off as it is provided that assessee can w/off them in the Income TAx act)

Dear Sir/Madam,

What are the taxes (e.g. Service tax, VAT, WCT, TDS etc.) applicable to a civil & interior decorator and how (tax break-up).

Two contractors (both civil and interior decoration) are carrying out their works at my office.

We are situated at Chennai, Tamilnadu

Total cost for the civil contractor is Rs.1,00,000/-
Total cost for the Interior Decorator is Rs.8,00,000/-

What type of taxes will apply to the above vendors? If the contractor provides relevant registration, the particular tax will be exempted.

I am not an accountant but for my job I need to know the procedure and calculations.

Pl. help me with some examples.

With regards
MadhuSudan

Dear Sir,

I am working in as an accounts executive in a software company. Actually I need to know that how We make a projected P/L as well Balance Sheet. Kindly give me some guideline regarding financial so that I may do the same. I will be grateful to you.

Thanks & Regards,
Raghav Jha

hi,
Where an asset has reached its residual value of 5% under SLM and the company is still using that asset and keeping this asset at residual value of 5% in their FA register but it claims depreciation under WDV for tax purpose.
Whether the difference in taxable income and accounting income on account of depreciation charged in IT Act and no depreciatoin charged in Co Act will be timing difference or permanent difference??

Tell me the name of best reference book for Advanced Accounting-CA FINAL.