if there appears a sport fund, then the expenses incurreed on sport activities will b taken to income and expenditure account or not???
sir plz answer my query with some logic and in easy way!!!...thanks

Could anyone give brief explanation on reconciliation of accounts payable?

Hello dear,

Our management has desided to change the metod of depreciation from the SLM to WDV.
Can we do this?

And how to treat the resulting difference in depreciation?

Whether below the line or against the current year profit?

Thanks

my query is about valution loss booked while comparing cost or market value whichever is lower?
i have purchased 100 share of Rs 100000 and the market value as on 31/03/2010 is 90000.Therefore we recognized Rs 90000 as value of shares lying in stock in trade as on 31/03/2010 and booked Rs10000 as valuation loss. now as on 31-03-2011 the market value of same share downs to Rs 80000, my query is from which amount Rs 80000 is to be compare, whether 100000 or 90000 foe the valuation purpose as on 31/03/2011.And how much valuation loss should be booked as on 31/03/2011

If a company pays MAT for year 2010-11,then while calculating defered tax liability ,which tax rate to be alpplied?MAT or normal rate of tax?

Also if normal rate is applied will it be 30+ surcharge+cess or 30.09%. since the company is having loss as per income tax. pls advise

As per Section 212 of Companies Act,1956 if Indan Co has Foreign Subsidiary Company Accounts are to be converted in Indian Standard and then filed with ROC,

Is it Compulsory to convert this accounts form statutory auditor or can we get it Converted form any other Auditor also

what should be the accounting treatment for capital profit on sale of an asset and why

I AM FACING LOT OF PROBLEM IN UNDERSTANDING THE VALUATION OF CLOSING STOCK AND CALCULATION OF PROFIL OR LOSS ON SALE OF INVESTMENTS IN INVESTMENT TOPIC OF IPCC
I M ABLE 2 CALCULATE ALL THE CALCULATIONS REGARDING THE VALUVATION AND P&L BUT NOT ABLE 2 GET CONCEPT AND REASON OF DOING THIS THINGS ...PLZ HELP ME TELLING THE CONCEPTUAL KNOWLEDGE REGARDING THE VALUATION OF INVESTMENTS AND CALCULATING P&L ON THEIR SALE UNDER FIFO . LIFO . AND AVG. STOCK METHODS...




REGARDS

WE ARE THE EXPORTER & WE RECEIVES DEPB LICENSE FROM GOVT AS A EXPORT INCENTIVE. I WANT TO NOW FOR EXAMPLE THE DEPB LICENSE RELATE TO FY 2010-11 & WE BOOKED EXPORT INCENTIVE RECEIVABLE IN THE B/SHEET OF THAT YEAR & WE ALSO SALE THIS LICENSE TO LOCAL CLIENT in next year & ALSO CHARGES VAT ON THIS. THE PROBLEM IS THAT WE HAVE ALREADY BOOKED THIS LIC. AS INCOME FOR THE YEAR 2010-11 AND NEXT YEAR WE SALE THIS LIC. AND ALSO CHARGES VAT U PLEASE TELL ME THE TREATMENT OF ACCOUNTING ENTRY IN THE BOTH YEAR AND ALSO IN VAT RETURN & VAT 20 FORM.Is there any Excel should be maintained by us for DEPB Calculation?

We made lot's of Bank Guarantee for different project. i wanna know wat's the treatment of Bank Guarantee. Kindly explain step by step

1. We book all expense of guarantee for their project in cost centre.

2. The bank kept 15% margin for surender amount of BG.We transferred in bank to margin.

my query is that it is based on future based period for 2 or 3 years. so why do they consider all expenses in same year.