what are the repercussions for having a negative working capital in balance sheet in a particular year.

A company has commenced its production activities this year. The company during the previous year disclosed all its fixed assets (plant & machinery, building etc) under capital work in progress and other expenses incurred for the project under the head pre-operative expense which separately shown in the previous year balance sheet. This year all the assets were ready to use and has been capitalised. The pre-operative expenses were allocated on pro-rata basis. Last year, in notes to accounts, it was separately disclosed that pre-operative expenses are shown separately as it has to be capitalised on commencement of busines operations. How should i disclose in notes to accounts that i have capitalised the pre-operative expenses on pro-rata basis. Is there any restriction on capitalisation of pre-operative expense on pro-rata basis as per Guidance note.

AS-17 Segment Reporting is applicable on all listed enterprises OR
It is applicable on any enterprise whose turnover exceeds Rs.50 crores...

Plzz rply....

WHAT ENTRY SHOULD BE PASSED FOR SET OFF INPUT/OUTPUT TAX PAYABLE,AND WHEN ACTUAL PAYMENT IS MADE THEN WHAT ENTRY SHOULD BE PASSED?

if an employee is given a car by the company which has been bought in the name of the employee but the EMI for the same is paid by the company then can the car be treated as a company asset.
Pl advise how this transaction should be accounted in the company books and the income tax implication for the individual and company

a limited company received a bill for 2500000 in the month of august 09 in respect of contract expense relating to may09 but the company recognise the bill in the month of december 09 and deduct tds .the contention of the co. is that it has received the bill in december . so it has booked the bill in december and deducted tds. whether the company is right in booking the bill at the time of receiving the same. if the company is right please give reference.

What will be the treat ment of revaluation reserve on land?

when revaluation reserve can be write off?

Hi Sir,
IF WE PURCHASE FUEL FOR THE GENERATOR BEING USED AT THE OFFICE PREMISES AS ELECTRIC EQUIPMENT, THEN WHICH A/C WILL BE DEBITED.

How much expenditure one can putr under mis. expenses head?

for co there is a rule as per co's Act but what abt other concern such as partner ship firm and all like that other than co?

whether deffered revenue expenditure is considered for the creation of DTA/DTL during the year?