In Connection with AS 16 kindly advise on Capitalisation of Loan preclosure charges and Overdue interest charged by Bank on Delayed Payment of installment.

Whether dividend on cumulative prefrence share will be shown as liabilities on balance sheet.????????

Please inform me that If an employee gets his increment in the month of July,is it necessary to deduct Professional tax for the arrears he gets from the month of April 2011 to July 2011.
Suppose the salary was Rs.10000/- the professional tax was already deducted.Now he gets salary of Rs.10000/- and arrears of Rs.8000/- I.E Rs.2000/- per month from April to July 2011.
Please put some highlight into this matter.

When do we do revaluation of an asset and why is it done so??

sir

my rent aggrement is started from dec2010 to nov 2011. my monthly rent is 41000/- I had given a one month security. after 10 month owner said security will be adjusted in rent. when tax is deducted when he treat rent or when i pay security

Hello

If a lease is classified as operating Expenses, then What is the treatment of Initial Direct cost such as stamp duty, Brokerage etc...??
are they expensed off in the First year itself or is deferred till the lease term.

Plz give ur opinion with reference to AS 19.

WHAT IS PRINCIPLE BASED AND RULE BASED ACCOUNTING STANDARDS. AND WHAT ARE THE DIFFERENCES BETWEEN THE TWO ?

My expert colleagues & seniors

What is vessel accounting. Please can anyone explain. How it is useful as a career.

I came across this through an advt with a ship management company. How it will be useful for CA's as a career

Please explain


Thanks a lot

Had one doubt...

I sent 100 units of Raw Material (of Rs. 20 Each totaling to Rs. 2000) to sub contractor. Sub contractor charged Rs.50 for doing the processing work. Now i brought this material from sub contractor to my stores and i borne the freight of Rs.25.

So i wanted to know.. At what value i should value the new stock (after processing)..

Will it be valued @ Rs. 2050 (i.e Rs.2000 of Raw Material + Processing cost of Rs.50) or @ Rs.2075 (i.e Rs.2000 of Raw Material + Processing cost of Rs.50 + transport cost of Rs.25)...

I tried searching AS-2 also. But i didn't got relevant point related to sub-contracting.

Please reply at ur earliest.

In case of Housing Society, The Amount contributed from the members specifically for the purchase of Asset, This amount is over and above maintenance deposit.


Please correct me if wrong: Following entries were passed.

1. While taking Amount from members

Bank A/C Dr.

To Members A/C. Cr(Grp-Current Liabilities)

2. At the time of purchase of Asset

Asset A/C. Dr.

To Bank A/c. Cr.

The Problem here is the Asset has been purchased but Liability is still standing in Books,

How to eliminate the liability entry?