Can someone please help me to know what is a 'mirror account'? What does it simply means and when is it used..
Thanks for your help.

Is accounting standards are applicable to individual and partnership firm. If yes kindly provide the specific information that where it is written?

can we go for diploma in IFRS

Please clarify whether these are real a/c or nominal a/c/? Different authors have different views.

I have purchased Tally Software of Rs 13500 in a company. Whether it will fixed assets or indirect exp. If Fixed assets then what will be the Dep rate.

Dear Experts
We were having a Fixed Deposite with SBI of amount Rs. 650000 in Sep.2008. The FD matured in Aug 2009 and bank released the amount 689256 after deducting the TDS. we supposed the amount 689256-650000 = 39256 as the int on FDR. But now the bank issued us the TDS certificate showing the details as follows

int on FDR= 13738
TDS = 1374
Cess 42
total taz deducted =1416
Now what should we do?

Sir i want 2 know the treatment n how to present following facts. 1. We have purchased some assets in earlier years n paying less to the party therefore should we credit to fixed or to balance written back.
2. Sales return of part years to be show reparetly or deducted from that specific items and same in case of purchase returns

We have purchased raw material @ 2000/ Qtl.
Now, at the end of accounting period the NRV of Final product is 1900/-.

what should be the treatment of valuation of closing stock of Raw Material as the cost of final product is lower than the cost of raw material.

Whether the valuation of balance stock of raw material should be at realisable value or the cost of purchase or some other treatment and how and why.
Thanks

Dear Sir/Mam,

Subject:Accounting effect in case of Merger

Query:

Company B,C,D (TransferorCo.) merged with the Company A (Transferee Co.) in pursuance of Court order by way of Amalgamation in the nature of Merger.

The Company opting Pooling of Interst method.

At the time of Consolidation of Financials of Transferor Company with the Transferee Company the Auditor find that the Consideration by way of Equity Shares as per exchange ratio are excess over the Net assets transfred from the Transferor Companies. The auditor follow the AS-14 and adjusted excess consideration with the R&S of the Consolidated Accounts.

But at the time of Adjustment Auditor fins that the balance in R&S are not sufficient to coverup the excess consideration.

Now What the Company as well as Auditor has to do.

Yours views will be most valuable for me.

CS Anand

on approval from central Government, the rate of discount on issue of share can be ____percent of the nominal value of the shares
ans : 20

in the course material ans is not exceed 10% of the nominal value ofd shares

which ans is correct

Girish