Sir..

My organization is a Private Limited Co, having 4 directors. Many a times, these directors spend money for co's purpose through their personal credit cards. Thereafter, the company pays the total due of Credit Cards (Which includes their personal expenses too..!!) through cheque.

Now, the accounting needs to be justified...

How to Account these expenses ? and in what Head..?

Can I raise these Banks (of respective Credit Cards) under the head Current Liabilities / Provisions.

Need help..

Consequent to IFRS standrards notified, budget was to address the tax issues on IFRS and the date of implementation. Budget seems to be silent on the same. IS IFRS implementation getting deferred ? Can any one clarify.

what is the main diffrent in capital reserve and capital redempion reserve?

As per AS 10, do we have to adjust foreign exchange fluctuation loss/gain arising on payment made to creditor of Fixed Asset against its Historical Cost or will it be charged to P&L?

Dear Members,
Pls clarify my quorey.
One Lady doctor, who is practicing in GH, and she herself manage 2 Clinic and one with In-patients bed. for preparing and maintaining her daily cash book, is there any prescribed format.
If yes, kindly forward the same.

RESPECTED SIR/MADAM I AM AN IPCC STUDENT.

I WAS STUDYING THIS CHAPTER & I FOUND ONLY ONE DOUBT IN THIS CHAPER WHICH IS

SALES FOR JAN & OCTOBER WERE 1 & HALF TIMES THE AVERAGE MONTHLY SALES WHILE SALES FOR DEC. WERE TWICE THE AVERAGE MONTHLY SALES.
THE CO. WAS INCORPORATED ON 1 MAY 2006 TO TAKE OVER THE BUSINESS OF DEF & CO.
ACCOUNTS R CLOSED ON 31st DEC.

PLEASE TELL ME HOW TO CALCULATE SALES RATIO.
THNX IN ADVANCE.

HUF is a constitution by itself which includes its coparceners/members.

Opening Joint a/c with HUF as one of the a/c holder:

1. Can an HUF a/c be opened Jointly with an Individual, who is a member of the same HUF

2. Can an HUF a/c be opened Jointly with an individual who is not a member of the HUF

Dear sir,

I am working in a temple i have a problem.
Problem is if any Priest guru visiting our temple and we have gave him some donation for his trust and other expenses arrise.

In this situation on which account head the above expenses going

With Regards,

We are an engineering manufacturing setup, the company acquired & installed industrial lift at its plant. This lift was to be used for shifting fin.goods from ground floor after manufacturing process to fist floor. The cost of lift acquired & installed was Rs. 8,20,750/- at the same time company also installed a weigh brige in its factory which was used for weighing of raw material purchase. the cost of weigh brige acquired & installed was Rs.12,70,200/-

Pl. Tell the lift would be capitalized as building or Plant & Machinery or as any other asset?

Wether the weigh brige would be capitalized as building or Plant & Machinery or as any other assets?

Whether the firm would be entitled to additional depreciation in case if the above assets are classified as plant & Machinery?

We purchase on Printer for Rs. 10000/- from Vendor along with the printer one cartidge price Rs. 4000 was given free of cost & one additional cartridge was given @ 50% discount i.e of Rs. 2000/- the bill made by vendor is as follows

Printer Rs.10000/-
Cartridge with printer ( Free ) Rs.4000/-
Additional Cartridge Rs. 4000/-
Total Bill Rs. 18000/-
Less Discount 6000/-
Net Payable Rs. 12000/-

Pl. Tell me what would be the amount to be capitalized in my books ?

What would be the amount to be shown in P & L A/c.