Hi....i would like to know that if i purchase a car,the insurance of car will be add in value of fixed assets or not?

Co has deduct the PF & ESI from employees salary it is under the Expenses or Liability side

Dear friends
A is the (P) Ltd It is formed by 3 directors
Out which a is also one director
who transfered his proprietor business to company as a whole
how to make entry in directors books
Whether as transfer? or sale?
If sale Tax audit has to be done?

PLS help me solve question no. 5 of this paper
http://www.futureaccountant.com/exam-question-previous-papers/ca-pe-ii-group-i/accounting-november-2003.php

If the policy of the Company is that leave encashment is not allowed, then whether provision in books of accounts required by any statute?

Please explain the accounting procedure involved in PC and LC

Dear Sir,

Please clarify the disclosure requirement of working capital loans such as Packing credit Loans/Bill discounting loans etc.,in case of an exporting comapany.

1.Whether it should be disclosed under "Current Liabilities" or "Secured Loans".

As it is paid back from the current assets realisation,and most probabily within a year,is it a current liability for working capital calculations ?.

Should we include it in current liabilities for the calculations of CURRENT RATIO.

Or sepearate treatment for "working capital" and "Current ratios".

2.Can it be considered as long term loans ,as working capital loans are treated as running account and when exhausted again availed and the amount outstanding at the year end may be kept more or less same level as the business is continued.


Please clarify the above points with regards to Schedule VI disclosure
requirements.

Thanks in advance.

What is the procedure of LC ?
We paid a party through LC, Bank Charge Bank charges.
And interest on the same.
What happened if party get it discounted and if not.

Hello Sir,
I just wnats to know the accounting treatment of the EEFC account maintained with the bank dealing in foreign curreny at the year year end in the books of the company.If we translate the amount at the closing rate or as the case may be at the avg rate prevailing on the year end, then there will be diffence in the balance in INR as per bank book and bank statement be cause the bank statement wiill be in INR.

Please specify the proper accounting treatment for the said account. Is it as good as cash in hand in foreign currency??

Please guide.

Dear Sir,


Thanks for your Reply. But Actuly my problem is not comlete here, because P.F & Esic both are Employees contribution is paid to the goverment & employers contribution is Shown in Profit & Loss Account.


Here is problem create if i create ledger pf & Esic under Current liablities it appear in balance Sheet not P/L Account.