loss of stock main abnormal loss ka kya karte hai n pura procedure bata do plz.....abnormal loss ka..

What should be the accounting entry for short payment received from sundry creditor, which he is not likely to pay at a latter stage as well

Depreciation is to be charged at flat rate as per companies act.Is it correct?but however as per guidance note on depreciation "assets newly acquired,assets sold during the year & financial year with period leass than year" it is to be calculated on prorata basis.Finally the total effect become proportionate basis but not on flat rate?Plz clarify if my understanding is incorrect

What should be the basis for allocation of pre-operative expenses at the time of first time capitalisation.

1. Total expenses incurred on accrual basis
2. Cash expenses incurred (total exp-creditors)
3. Total expenses+allocated interest on term loan taken for the purpose of capital expenses
4. Any other basis if any.

A co. has received a bill of professional fee of Rs.200000 and TDS is to be deducted @10% i.e. Rs.20000 and balance payment is to be made for Rs.180000.
I have made following entry:-
Professional fee Dr.200000
To TDS payable 20000
To Party 180000
whether this entry is wrong?

plz any one can tell with example what is suspense account

How should I adjust input sales tax, output sales tax & payment of sales tax in Accounts?

Regards

What is deffered Expenses ?? What are its implications in accounts ??

HI,

I need the exact accounting treatment of the following case in respect of forex rate difference:

An asset was purchased for 1000 USD on 10/5/2010 (rate of excahnge 1 USD = rs 45 as per bill of entry).

case I: when paymen is made to the party on 1/1/2011 the rate of USD was INR 48.00

case II: when paymen is made to the party on 1/1/2011 the rate of USD was INR 43.00

case III: when paymen is made to the party in the next financila year i.e.15/4/2011 the rate of USD was INR 43.00

Can someone explain me the COGS concept. ERP like Oracle Apps and few others follow the COGS Concept while accounting. Inorder to make accounts as per the New Schedule VI, how will Purchases be calculated?