DEAR ALL

WHAT IS MEAN BY OUTSTANDING INCOME AND EXPENSES AND PLS. GIVE SOME OF EXAMPLE ALSO

WITH THANKS

K A K

Dear Sir's & Friends,
In our company we pay some part of the salary in the form of reimbursement to an employee, now this employee shows bills agnst expenses incurred such as Petrol Exps, Repair & maintenance of Car, Mobile exps etc. Every month these expenses are shown by the employee and later on the same is reimbursed, threshold limit of these monthly expenses are 35000/-, we pay him only this amount whether or not he has shown bills for the same. My question is can we debit all these expenses showed by him under respective ledgers or the expenses reimbursed should be considered as Reimbursement of expenses under Staff Salary head. Please help

EXPORT INVOICE DATE :-31.03.2010 AND BILL OF LADING DATE :02.04.2010.IN WHICH FINANCIAL YEAR SHOULD I PASSED THE ACCOUNTING ENTRY TO RECORD SALES.KINDLY REPLY

Dear Sir,

I am giving the employees data for acturial valuation to LIC of India. In my company directors is also entitled for salary. In this data which is for gratuity purposes is being prepared. Details like employee DOB, BAsic+DA,DOA,Retirement Age e.t.c.

I have to know in this the details regarding the Directors is also to be given for gratuity calculation or not?Are they also eligible for Gratuity?

Please explain the same.

Thanks & Regards,
Raghav Jha

As per AS-2, Finished Goods has to be valued at cost which includes conversion cost to transform RM to FG. So while valuation of goods, Conversion cost will be included.

Also In Accounts, all the manufacturing expenses are debited to Production expenses A/c which goes to P&L.

So here, there are two debits - 1) Increasing the Inventory Valuation to the extent of Conversion Cost and 2) The same duplicate debit is in Manufacturing Expenses A/c.

Ideally speaking, the manufacturing expenses to the extent incurred on FG should be credited and debited to Inventory A/c.

Please answer the same.

I HAVE A PROPRIETORSHIP BUSINESS,WANT TO PAY THE PREMIUM OF MY SON,WIFE THROUGH CHQ.HOW TO SHOW IN BOOKS.CAN I SHOW REMUNERATION IN MY NAME AND THAN DDEDUCT PREMIUM FRM MY INCOME.OR ANY OTHER WAY.PLZ HELLP

we have imported second hand machinery from Germany two years back, now its used in production.

My question is that can i claim depreciation on that as per company law and what is the rate of depreciation.

DEAR ALL,

PLS. HELP ME

WHAT IS MEAN BY ACCURED INCOME WITH EXAMPLE

DEAR ALL

PLS. HELP TO ME

REGARDING WITH DEFFERED TAX LIABILITIES AND ASSET

WITH EXAMPLE

MY MAIL ID: ( karun.cwa@gmail.com )

With Thanks

K A K

What is the difference between Income tax expense and provision for income tax and likewise what is the difference between bad debts and provision for bad debts? kindly explain the difference and also the DETAILED ACCOUNTING PROCEDURE to be followed in accounting the same.