How can we treat the following situation, how it appears in accounts and what is the effect in the quantity and value of stock?

Sample raw material received from a party outside india through courier and all the expenses relating to it are met by the party who send the material.

WORKING CAPITAL DIVERSION IS USING SHORT TERM SOURCE FOR LONG TERM PURPOSE.THE FINAL RESULTS IS THAT THE UNIT BECOMES SICK AND THE BANK LOAN BECOMES NPA. OTHERWISE,THE CC LIMITS DIVERTED FOR LONG TERM PURPOSE SHOULD HAVE BEEN BROUHT IN BY THE BORROWER.THIS TRANSACTION IS NOT BEING ACCOUNTED FOR AND NOT REFLECTING IN THE BALANCE SHEET AS THE AMOUNT OF CC LIMITS USED BY THE BORROWER FOR LONG TERM PURPOSE.AS A RESULT, THE USER OF THE BALANCE SHEET IS GIVEN WRONG IMPRESSION. WHY THE WORKING CAPITAL DIVERSION SHOULD NOT BE BROUGHT TO THE BORROWER'S BALNCE SHEET? SO THAT FURTHER RISE IN BANKS NPA CAN BE PROTECTED.

I am B.Com passed with having 4 yrs accounting exp., so now i planned for correspondence MBA from any institute . So please suggest me is it benefited for my future.


Regards,

Bhai Dupare

As on 31.3.2010- cost of computers in books is Rs.35,24,566 and accumulated depreciation up to 01.04.2009 is 32,77,371.13 as per companies act. So much depreciation can be claimed in the Fy 2009-10.Kindly help.....

Is there any change in AS 11 which is applicable for Nov,10 exam?

The difference in Forex is transferred to a account called Foreign Exchange Fluctuation Account, but i think the nomenclature of this account is amended or changed,so pls if anyone know pls let me know the real changes which are applicable for this exam
its urgent, exam is going to start on Tues
You can also give ur replies at hereforeducation@rediffmail.com

Hi,

What are the entries involved under GL Account Receivable Reserve account

Some please tell me a partnership firm which deed has been expired. Now for deduction of tds new tan no.is required .my question is that in the tan form wt shud be write . Individiual name with the firm name or only name of the owner. Old tan no. Will be write.

What are the valuation guidelines on DCF valuation?

Dear all,

Ours is a Manufaturing company, We have procured hand Pallet truck or Trolleyes costing Rs.15000/-. These are purly hand held and not machanical.

The life is explained to be one to two years.

Whether these should be treated as Assets of to be charged to revenue.

We are providing consultancy services. We have awarded a job in canada. My questions are:
1. Service Tax is applicable at the time of billing to foreign client.

2. Accounting Enteries.

3. Tax Liabilites.

4. Any Mandatory Form(s) to be submitted to any relevant authority like RBI, Income Tax etc.

Please Help Me.

Thanks,

ARUN