Dear Experts,
The company in which i am put for the internal audit does export sales too.
They are eligible to get the export incentives as per the DGFT guidelines.

Suppose if they make export sales 100000
They are eligible for DEPB for 8000

They make an application to get that DEPB certificate amounting 8000.

Then they sell it to the outsiders for 7000. Sometimes it may be even less than 7000 say 6000.

1)Please tell me is there any instituite guidelines as per AS-9 (revenue recognition) or any other pronouncement on how to account this eligible DEPB of 8000. But the actual receipt is 7000 or 6000.

Thanking you,
With regards,
Rajesh.

How is the stock transfer considered while consolidating branch accounts and HO accounts
Stock transfer in the month end is goods in transit for the branch .

How is is treated in the consolidated balancesheet

Respected Sir,

i am working as an Junior Accountant executive, So, I need to Prepare MIS Report, So I don't have any format and How to prepare the MIS . So can Any one help me Please. My Email Id suji.sen6@gmail .com


Truly,
R.VARALAKSHMI

While making partiton of the assets of Huf,is it necessary to
distribute all the assets equally among all the members including
female member(my wife) or can I give more share to one of the members?

We established a new co doing job of fabrication. we have done alot of expenses before establishment of the company.like legal Exp, Staff salary, stationery exp, loan payment, assets purchased etc. now how can we make entry for those above expenses. please help.

Please advice about accounting treatment of processing or upfront fee paid for a loan under IFRS and IGAAP.

1. to be amortised over the period of loan or completely charged off in the year of loan acquired

Hi experts

This is nitesh namdev, i am accountant in furniture retail showroom.
1. what is the meaning of abatement in case of service tax.

2. what is the tds entry in case we hired a consultant for our software modified and pay every month 60000/-.

3. its a rule of tds on subcontractor or contractor, we deduct tds on ist time bill worth rs 30000/- or total of invoices in a year 75000/- , but we received ist bill 25000/- on july, 25000/- on august, 20000/- on september, 28000, on december. can i deduct tds on 28000/- on december bill and which amount may be deduct.

my client has availed an educational loan from the bank and he has been repaying the interest to that educational loan. Now i would like to know how it is shown in his books of accounts while he is filing his individual income returns ? the loan amount was directly paid by the bank to the concerned college authorities.

Dear Experts,
What is the present status of applicability of Ind-AS, are we still waiting for the notification of their applicability?
And if these are not applicable till date , what happened to the roadmap issued by ICAI , quoting that ifrs will be applicable from 1 apr 2011 for certain class of companies.

If co. earn profit on sale of Fixed Assest and we treat it as income in Profit and Loss A/c. But it is capital nature . So, it should be shown in Balance sheet. Plz solve my QUERY. It is capital nature or not