my director is many times in month transfer his money to his family member like, his daughter,son, wife, brother,
could you pls tell me how can i show in accounts book when he is maintaining his personal accounts book.
presently i m showing these money for each member loan from director is it right ?
advance thanks

We have capitalized the amount paid under EPC contract with relation to fixed asset. The EPC contractor had extended performance bank guarantee for the performance of the above mentioned asset. on account of poor perfomance we have invoked the performance bank gaurantee & received the bank guarntee amount. In this context would like to know :
1.What is the correct way of accounting the proceed of bank gurantee ? Should it be accounted as Miscellaneous Income or it should be netted off against the value capitalized?

Whether Interest paid on Advacne tax u/s 234B & C and Interest paid on TDS in 2010 before due date of filling the return of FY 2009-10

Should be taken into consideration for calculating the Deffered Tax

If not so pls explain me its very urgent....

Which all transactions fall under the head 'Gross Related Party Transactions' in the accounts of a company?

SIR
OUR CO. (CONT CO.)MAKE SOME ADDITIONAL WORK FOR ONE PERSON AND WE RECEIVED 5000/- AND MAKE ENTRY IN (31/03/11)(YEAR END)
BANK DR
TO
OTHER INCOME
BUT NOW (30/07/2011) OUR MANAGEMENT TOLD ME OUT OF THIS 5,000/- WE HAVE TO PAY 2,500/- FOR ANOTHER PERSON BEACUSE HE SPEND THIS AMOUNT
CAN YOU GIVE ME THE ENTRY FOR THIS PROBLEMS
THANKS IN ADVANCE

Dear Sir,

Can any body tell me What is LC? How it is to be opened? Documents to be required to open LC?

Regards,
Shrishail

Wat is the fee charged by ROC for filling of annual Financial Statement.

What will be the accounting treatment of purchase bills bearing date 31.03.2011 but received only on 04.04.2011.In what period will the purchases be recorded and what will be the entries in both the years????

Work and Career Profile and Guidance

Urgent Counselling / Advice and guidance needed on my job/work and career profile:
I am in mid thirties, post -graduate without any practical work experience or say work experience.
I have done B.com-49% (regular college), 2000 and P.G.D.B.A.-2006 Specialisation in Finance Management. Through Distance Learning / Correspondence (Private Institute).
Before PGDBA, I was pursuing C.S., But unfortunately I did not passed any intermediate groups. I had passed C.S. foundation course in 1997.But due to my graduation I could not clear any Inter group. I passed my subjects but not aggregate marks (50%) in the one group.
After Post-Graduation diploma, there is a gap of 5 years till now(2011). Now I am searching job because of regular income.
The problem I am facing is Nil work experience in my Bio Data. I am being offered:
1.) Account Assistant job (tally knowledge is required.), But I don't know tally. And Advanced Excel.
2.) Payroll executive job: I don’t know anything practical about payroll.
I am in Dilemma, confused. Since there is a lot of gap after doing my B.com, (it is 10 years gap), I think I forgot my accounting knowledge which I learned in B.com and PGDBA.
And another problem is that with I have to sign Bond of 1.5years / penalty of 6 times salary.
Since, I think I forgot my B.com knowledge, IF I proceed for training in accounts/ Tally and/or payroll , I don't know whether I will be able to continue and that's why I am reluctant to sign the bond.
Please answer and guide me:
1. Shall I learn tally in the blank condition what I am .I mean to say that I did B.com 10 years back so I have forgotten all the basic/ all concepts of accounting. Is it right or will I be able to use tally easily. Is tally easy?
Suppose, I have forgotten everything about account, then can I learn it in short time?
Like 3-4 months time. Please guide me.
2. Shall I join as payroll executive; take training in Payroll by the company. And make career in Payroll. , since I don't know anything about payroll, which accounting concepts are applied in Payroll process, I don’t know. So, will I be able to learn Payroll without knowing accounts knowledge.
Since I have not worked in any company I don’t have practical experience.
Shall I join tally and excel training institute?
3. What options or career’s or jobs are there in commerce/ any field which I can directly join in today’s date.
4. Which jobs are there in the job market for B.com & PGDBA in finance?
5. How do I search job in finance field in which no accounting knowledge is required.
6. Which company's do I look for jobs?
7. Please explain finance operations jobs.
8. Which type of Jobs I search for.
9. I urgently required a job.
10. Shall I change my field for Sales or Marketing? I am confused since I doubt myself that will I be able to do sales or marketing job?
Please Help me.
Thank you in anticipation.

in company a/cs we have to ans accrdng to in revised frmat or sch VI???