Dear Experts,
I am auditing an closely held company. We have to calculate EPS for that. They also have issued bonus shares in the middle of the year.
While calculating bonus shares....
We have to deduct the following from the Net Profit as computed in the P&L account.(There are no preference share holders)
Provision for Tax
Deferred Tax Liability (If there is deferred tax asset should we have to add?)
Dividend Distribution Tax
Transfer to General Reserve
With regards,
Rajesh

im really confused about when to calculate opening stock reserve in departmental accounts.
In some questions it is written
Opening stock ( at cost to concerned departments)
in some
simply opening stock
in some
opening stock ( at cost)
in which case we calculate opening stock reserve?
Also in some questions in the absence of any information opening stock reserve is not calculated and in some we calculate stock reserve on Closing stock - opening stock.
im really very confused pls help me out and explain me this concept.

Suppose A Company HAs 200000 as provision for Tax on Liability side of and has 230000 as Advance Tax On Asset Side of earlier years Say from 1996-97 to 2002-03...,,,nd nw th company is a loss making co...nd no chances of revival


If th company write-off advance tax against provision thinking no refund will bw obtained and pass th following journal entry...

P & L A/c. Dr 30000
Provision 4 Tax A/c. 200000
To Adv. Tax 230000

What will b its implication on Th operating activities cash flow?

A person purchased a computer for Rs 30000. he was given a scrach card in which he won a Gold Coin worth Rs 5000.

What should be the accounting entries to be recorded in the books of the person.

Please suggest?

If Vat & Service Tax are charges in Indirect Expenses suche as Printing Stationery,Repairs etc,Service tax charges in Maintanance,Repairs,Rents Etc.How should the Expenses Accounted.Whether setoff or Benefit can be taken.Please give some Logic.how should i account.

Muncipal Tax Paid what should be the account head.

Regards

How to account for the purchase and sales / redemption of mutual funds units.

Further while calculating net profit, do we have account in FIFO basis or average method.

Dear All,

One of my client (Gov. Company)received land as gift from a private company. the market value of the same were Rs.3 cr. the transaction taken place in the month of Oct'08.
still we are not accounted it. while finalising the accounts for the year 2009-10 the statutory auditors are says account the land with the market value. is it correct?
if correct what is the AS applicable?
and the where the credit will go?

IF it is not correct,

what is the correct treatment?
with AS reference

AUTHORISED CAPITAL=4,25,00,000
equity shares: 10,50,000 @ 10 each
preference shares: 3,20,000 @ 100 each

PAID UP CAPITAL=38,683,000
equity shares= 7,28,300 @ 10 each
convertible preference shares=3,14,000 @ 100 each

Now the company pans to convert the preference shares into equity shares at 10 + 90(premium) each. In this case what will be my new paid up equity capital? will it remain same or there will be a reduction of capital?

We have started an offshore project and have deputed some resources to work for the project. I would like to know more in detail about the cost-plus method and its applicability in accounts.

If my outgoing expenditure is say Rs.20 L p.a can i account a revenue of Rs.2 L per month. please explain the procedure

can someone send me dolphy d'souza's ebook!