In previous year if we book expense as fixed assets how can we rectify in the current year? How can we book expense in income statement whole of fixed assets wrongly booked in previous year? ( also in the case of small remaining amount of fixed asset like Rs.350) Neither we can show 100% depreciation nor we can show it as disposal. If you have any solution please advice. Thanks in advance

what will be the adjusted from Capital account, specially in the case of Company , LLP and proprietorship firm..

what will be the treatment in the case of individual books
when only single single ledger is maintained , then no issue but
when Fixed or current capital maintained,
the how to make adjustment of profit /Loss or other transaction,

Freight Inward for RM Purchase
Freight outward for RM purchase return
Freight outward for Sales outward
Freight Inward for sales return,
My question is whether Freight inward and outward for purchase of Raw material under Direct Expense Freight Expenses
For sales outward and inward keep under Freight for sales under indirect Expenses.
is correct way to maintain books of accounts.

whether Journal entry in the case of individual can be passed while maintain his books of accounts
for LLP TDS, , TCS Advance Tax and self Assessment Tax

Firm Expenses Dr
To LLP A/c
and in the case of Tax Refund
LLP A/c Dr
To Firm Expenses
Is correct way to accounting.

Hi Sir,
Please let me know that how to record TDR transaction in Tally as well as effect of RCM / GST. suppose we are purchasing the same and utilizing the TDR in our site, then hoe to book TDR purchase & settlement of TDR transaction..?? please explain in details with tax effects.

Private Limited Company - Holds fund in LIC for Gratuity and have actuary consultant as well. Now the situation, the present obligation amount payable under LIC & Present obligation amount as per actuary consultants report are not matching.. huge variance.

is there any way to reconcile that.. we are able to match only the fair value of assets between LIC & Actuary consultants report.

Kindly help its very urgent. Thanks in advance

company "A" holds 33% share capital of "B" . Also directors of "B" are promoter of co. "A" and "B" .
do IND AS 110 applicable on co. "A".

please suggest

Hi sir/ mam
Please clarify my doubt regarding AS18
1. Is Subsidiary's Associate is Related party the Reporting entity (i.e Holding company of Subsidiary) ?
2. Is Associate's subsidiary is related to to Reporting entity ( i.e investing entity)
3. Is subsidiary's or Associates JV is Related Party to the reporting entity?
Thankyou

Dear Sir/Mam ,

Due to Floods in Dec 2023 , Stocks have been damaged which are material in value and it could not be quantified as at 31.03.2024 .These stocks are covered under insurance policy . In July 2023 , Damaged stocks could be quantified and insurance claim is receivable during August.

Can we apply AS 4 & treat it as an Adjusting Event & Adjust the Assets & Liabilities as follows
1. Add insurance claim receivable and decrease from stocks
2. Balance loss to write off in P/L account
3 can we provide disclosure accordingly

Thanks in Advance