what do you mean by impairment of assets. why impairment of assets is required?

Dear Sir,
Discount Received from Mr. Ram Rs. 200, journal entry is
Mr. Ram A/c Dr. 200
To Dis. Rec. 200
(Being discount received from Mr. Ram Rs. 200)
Why this journal entry
which golden rule, we are applying here
according to Nominal a/c all income cr. and we are doing the same here but at the same time if we talk about the other a/c Mr. Ram, he is the giver and according to Personal a/c rule, credit the giver, then why we are debiting the Mr. Ram a/c.
Please Explain with the a reason Please Mr. Experts????????

SIR/MADAM

PLEASE TELL ME HOW TO STUDY PROFIT PRIOR TO INCORPORATION CHAPTER.

I AM AN IPCC STUDENT.

ALSO TELL IS IT MANDATORY TO LEARN PARAGRAPH & SECTION NO. IN ACCOUNTS & TAXATION.

Hello i have a question about house rent allowance ...

1. Is HRA provision abolished or withdraw by ITD or not.

2. If not withdrawn, then What are the requirements for availing HRA etc.

Hi friends,
While preparing cash flow statement we calculate working capital changes.In that calcualtion
1)Increase in debtors,we will consider as decrease in cash?
and
2)Increase in creditors we will consider as increase in cash?
can any one explain me increase in debtors and creditors is a non cash transaction,but why will consider it?

Please explain me with an example how those transactions make increase/decrease in cash?

37. A partnership firm maintains its accounts on calendar year basis. B, one of its partner died on 31st March 2006. The profit for the year 2005 was Rs. 75,000, which was distributed among all the three partners equally. The share of profit of B for the year 2006 on the basis of the year 2005 will be
(a) Rs.18,750
(b) Rs.25,000
(c) Rs.Nil
(d) Rs.6,250

ANS: Rs. 6,250

Please tell how to calculate

IAM PURCHASING 100000 AND TAKING INPUT FOR URD PURCHASE 13500 AND SELLING IN SAME MONTH FOR 110000 AND CHARGING VAT ON WHOLE AMOUNT FOR 14850. AND SAME OUTPUT AMOUNT 14850 MY DEALER CAN TAKE INPUT CREDIT? MY 2ND QUESTION IS HOW MUCH TAX HAS TO PAY TO THE S.DEPT 14850 OR DIFF AMOUNT 1350 PLS ANSWER ME

what is the diff between general reserve and reserve&surplus

our company is Holding company. It have 4 Susidiary Company and accounts department is shared service for all the 4 Company. The thing is Company " A" paid to salary of " B" Company employees Rs1,50,000. Then one week later the company "B" return that money to Company "A". So How to enter the Entries. i am in trouble. Please help

on jan 1 year 1 an entity acquires for $ 100000 a new piece of machinery with an estimated useful life of 10 years. the machine has a drum must be replaced every 5 years & costs $ 20000 to replace. continued operation of the machine requires an inspection every 4 years after purchase. the inspection cost is $ 8000. the co. uses the SLM Method of depreciation. under IFRS what is the depreciation expense for the year 1 ?