What is meant by Reporting Enterprise??

in valuation of goodwill under capitalisation method why is profit divided by normal rate of return??

Hi,
Mine is a start-up firm (LLP) which was registered in December'2011. The firm is not functional yet and I have not opened the Current Account also. I want to know if it is mandatory to open a current account immediately and close accounts for financial year ending Mar'12. Thanks.

pl. let me know if Recruitment agency provided service on 15th jan 2012 & his fees is due only after 3 month ie.15th April 2012.

Then entry should be passed in March 2012 of it can be taken on 1 st april 2012

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

I release a bill 50000 to xyz on date 09-10-10 including service tax(10.3) but I have receive 35000/- only. how much tax i will have to pay authority. my responsibility would be on 50000/- or 35000/-

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?