Borrowings under ECB is credited in USD to our overseas bank. Upon crediting the money in USD, an entry is created in our books at notional rate for creation of the loan liability. Subsequently, the funds are credited to our ECB (rupee account) in India at the the rate prevailing on the date of transfer. Upon transfer, the loan liability is restated at the converted rate. The difference between the notional exchange rate and the actual converted rate is treated as restatement of the loan liability and not as exchange differnece. Is this accounting treatment correct?

please suggest for the books for all three subjects of pcc 1) accounts 2) cost & fm 3) taxation.

please suggest me the books through which
I can clear the exams by self study only.. As I have not taken classes (and i m unable to.) as the time for november attempt is very less.

Dear Sir/Madam

What is the E Sugam forum, please can you up date me.

Best regards
Raghu

GOOD MORNING SIR, SIR PLZ TELL ME IF I WANT TO SEE A CST AMOUNT FOR ONLY ONE PARTY IN TALLY ERP.9. THAN SIR TELL ME HOW CAN I SEE IT.
SUPOOSE SIR I HAVE A DELHI PARTY.THAN I WANT TO SEE CST. OF THIS PARTY FOR THE MONTH OF JULY 2010. THAN SIR HOW CAN I SEE IN TALLY ERP.9
REGARDS
RAJIV

eg:-if "A" company pruchased "B" company, "B" company all assets and liabilities are belongs to "A" company in that situation how to make entries in "A" company Accounts what i mean by that (ie:-how to pass jv's ) if i am using tally how to pass entries to "A" company

Dear Experts,

Whether 1st year insuranceof vehicles is Capital Expenditure or Revenue Expenditure.

In case of purchase of vehicles, the financiers require that the vehicle is adequately insured.

Please opine with reason.

Thanks & Regards,

WHAT IS THE MEANING OF SUBSTANCE OVER FORM IN RELATION TO ACCOUNTING STANDARD 1

1.Company has to be installed a "Rolling Mills "and purchased 2nos. Electric Motors worth Rs. 2500000/-, now MD wants it has been entered in "Electric Machinery" head but my opinion 'Plant & Machinery' Head. What is Right as per Income Tax & Company Act?
2.Company has two heads namely "CAR" & 'VEHICLE'now purchased MOTOR CYCLES in head it will be entered.

Dear Experts,
Is it possible to have P&L A/c (for the current year) in the trial balance itself for the year ended XXXX.
How i have to proceed in such a case?
With regards,
Rajesh

In case of valuation of inventory at NRV,which market value to be taken,whether at date of closing of b/s or at the date of signing the b/s? Is there any disclosure requirement for such?