Ours is a manufactring company and is developing a project ie(Purchased land and started to develop a building for its own use). Can we capitalise salary cost of Our MD, CFO and Other corporate staff on some % basis to the new project as they are attending the sites for some work.

Whether the expenses to be capitalised are to be treated as development cost and AS-26 Intangible Assets would be applicable.

OR

Whether the capitalisation of preoperative expenses would be covered under AS-10 Fixed Assets.

PLease confirm.

Ours is manufacturing company. A project is going on for developing the company's new building.

Now i wanted to confrim whether We can capitalise the salary of the person (Includes directors and other managemnt staff) visiting the above project.

If yes Whether it would be correct doing that?

Is their any accounting standard related to this issue?

Hi All,

Critically examine the emerging trends in accounting standards.

Please Answer me

is general reserve a liability for the company?

Please tell me is service tax applicable on sale of licensed software to AICTE approved colleges.

DearAll,

I would like toknow the following treatments in the books of Accts:-
1) Payment by owner of a team in IPL to its players.

2) Payment by Broadcaster to the owner

3) Sell of players from one team to another

Can any tell me on what basis Serial Episodes should be valued for Work In Progrss as on 31 st mar,2009?

Can is it possiable big amount like 1 crore directly written off without provision

please give details what impect in books and taxatation allow/disallow

What is the accounting treatment for repairs due to an accident on vehicle used for the purpose of company and subsequently some amount recovered from insurance co.

FRIENDS,

MY QUERY IS GIVEN AS BELOW:

A COMPANY RAISED IN JUNE 2007 USD 50 MILLION THROUGH FCCB REPAYABLE ON OR BEFORE JUNE 2012 BY-

I) ISSUE OF EQUITY SHARES OF RS 10 EACH @ RS. 1,000, OR

II) PAYMENT OF CASH AT A PREMIUM OF 45%.

IN OCT 2008 COMPANY'S SHARE WAS TRADING AT RS. 325 EACH IN BSE.

COMPANY DECIDES TO REDEEM FCCB WORTH USD 25 MILLION BY ISSUE OF EQUITY SHARES AS IT'S FACING LIQUIDITY CRUNCH.

TO GIVE EFFECT TO ABOVE SCHEME COMPANY BUY BACK 12,50,000 SHARES @ RS. 350 EACH.
AFTER BUY BACK IT REDEEMS FCCB OF USD 25 MILLION BY ISSUING THE 25,000 SHARES @ RS. 1000 EACH TO FCCB HOLDERS.

NOW WHAT WILL BE THE ENTRIES IN THE BOOKS FOR THE BUY BACK OF SHARES & REDEMPTION OF FCCB. ?

PLEASE ANSWER IN ELABORATIVE MANNER.