Accounts QnA - Page No 99

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Anil Kumar Meena

19 March 2010 at 12:17

RENT EXPENSE

Hi All,

I have a query relating to posting on rent expense as per US GAAP.Let us assume in 2009 we booked rent $5000 which should be $25000. now we are at march and december 2009 financial closed and audited as per US GAAP.
can you please tell me how we book this $20000 in current financial?
If you u want some more information just let me know.
Thanks,
Anil

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K R Ramesh

19 March 2010 at 09:49

Capitalisation

We have purchased extra monitors for few existing computers for convenience on looking/monitoring multiple sheets.

What should be the treatment done for these items in the books of accounts ?

Do we need to capitalise it ? If you look at a standalone basis these monitors cannot perform any function indepedenlty. What should be the correct treatment as per Accounting Standard /Law?

Please advice

Many thanks in advance

Regards

Ramesh

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sona

17 March 2010 at 19:01

ACCOUNTING STANDARDS

DEAR ALL,
I HAVE A QUERY RELATED TO AS 16(BORROWING COST). I WANT TO KNOW ABOUT THE EXTENDED PERIOD OF QUALIFYING ASSET IN RELATION TO WHICH THE BORROWING COST IS CAPITALIZED. WHEN WE NEED TO LOOK AT THE REASONS FOR DELAY IN DEVELOPMENTAL ACTIVITIES.AND IN which case we have to suspend the capitalization?

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Anonymous

14 March 2010 at 13:27

NEGATIVE BALANCE OF CASH

Hi,
Respected Member of CCI

One of my office client have negative balance in Cash balance in books of account.
So how i adjust such negative balance in positive in appropriate manner and pratical way please guide me.
Before i go my principal i want to know way to handle this.

Thanks
advance

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CA Anshu Agarwal

13 March 2010 at 15:46

Difference between Provisions and Accruals

please any one clarify me the difference between Provisions and Accruals.

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Radhe Agrawal

12 March 2010 at 16:25

Schedule vi

Why show "Estimated amount of contracts remaining to be excuted on capital account & not Provided for" in the head of Contingent Liability in Schedule vi of company Act 1956.

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