as per AS-2 whether Quantity discount received on purchase of raw material is deducted from cost of inventories or not.

Sir,
co. have sold fixed assets according to valuation assets sold on profit ,so pl. guide me that what is accounting entry of sale , profit etc. & on dep. sch. i will less, assets total sale value or before profit value. pls guide me with exmaple.

Dear sir

we want to Finalize our Accounts for the AY 2009-10. My problem is Our Company is sold a Vehicle on 31-08-2009 for Rs. 850000/-the cost of Vehicle on 12-10-2007 is Rs. 1175420/- on the same Block of assets One more Vehicle is there. Now my Question is According to Income Tax and Companies Act How can i Show the Deletion of Vehicle. Please can any Body tell me the Detailed Procedure of Depreciation Schedules as per Companies & Income Tax Act. Whether it is possible Please Provide me the Depreciation Schedules Formats. and finally in Dep Schedule as per Companies Act How much i want to Show in Deletion Column as Original asset Value or Sale Value or WDV of the Asset. Very very Urgent.

Dear all,

I am the student of ipcc,want to know the best books for accounting and advanced accounting , i have to self study and no any support for study , so dear all tell me the best books for the above subject from which i can understand the basic funda easily,

thanking you
regards

manoj

Sir,

if any company balance sheet show DEFERRED TAX LIABILITY in his previous b/s then it will show in next financial b/s also as opening deferred tax liability.

Dear All,

Can u please provide me the format for preparation of Balance sheet and Profit & Loss A/c / Income & Expenditure of a Gratuity Trust.

Thanks in adance

Regards

Amit Gupta

Q1)what is the exact treatment of premium on issue of debenture,shares in Cash flow from Operating Activities?
is it correct to deduct premium received & premium paid(if security premium is not given)?

Q2) what is the treatment of discount on issue of debentures in Cash flow from operating activities?is it corect to add it always?

Q3)if CDT is to be paid on dividend,then what is the treatment in Cash flow from operating & financing Activities?does CDTrate of 16.995% correct here?
Q4) is any treatment required for bad debts being written off?

dear sir,
i am a student of ipcc and my attempt will be on nov 10
i want question bank of all paper in group-1 for practicing for last few years.

please give me question bank otherswise give scanner name which one purchase for this.
please reply and i wait for ur suggestion.

TELL ME HOW MUCH DEUCTION OF PROVIDENT FUND SHOULD BE MADE BY EMPLOYER AS PER PF LAW FROM SALARY IN INDIA. IN GENERAL IT IS 12% BUT BELOW 12% IS POSSIBLE. EXPLAIN ME IN DETAIL WITH EXAMPLE. PLEASE CLEAR TO ME EMPLOYER SHOULD DEDUCT 12 % TOTAL BOTH FOR EMPLOYEE AND EMPLOYER'S CONTRIBUTION I.E. 06 OF EACH OR THEY SHOULD GO FOR 12% OF EACH I.E. 12% OF EMPLOYEE AND 12% OF EMPLOYER.

I want to know that on what basis prepaid insurance is to be allocated. on the day basis or months basis.

If an insurance policy was taken for Rs.1 Lac on 18 may of the F.Y. for the period of 1 year. it means for the 1 month month 17 day will fall in the next year. so how to calculate the prepaid insurance amount.