how to show prior period expense in balancesheet as per schedule VI format or just note to be added in notes to accounts ?

Dear Friends,

could anybody explain me about the technical/accounting/end-to-end relationship of "Cost center & Profit center"

Would appreciate,if answered,with a better practical example in BPO Accounting set-up and help me in visualising the P&L and B/S ?

thanks in adv.

SHOULD INSURANCE COST BE CAPITALISED WITH THE COST OF VEHICLE.

IF YES, THEN WHY NOT SECOND INSURANCE COST IS CAPITALISED.

dear sir,

i have received bill dt 31/03/10 which i charged / reimbursed to my party in april - 10. what entry may be passed on 31/03/10 ?

Hi expert,
how should the Order no. be done in Purchase order does it start with 1 or is it a code & does it change from year to year or continue the same

Please reply

can any advise on following: one Company has purchased machinery worth Rs. 3 crore as on 01.06.2009 and put to use date is 25.03.2010, meantime company has paid intrest on term loan of Rs. 5 lacs and processing charg for term loan Rs. 4 lac, wheather the above said asset folls under the definition of qualifying asset, and interst and bank charges is eligible for capitalisation within the meaing of as 16. and what disclousre is to be made in audit report.

Hello Sir

My query is very much common like any other queries related to TDS

I have received a debit note from my clearing agent ( C & F Expenses ) it is specified as below

For example

Reimburrsement Cost : 20,000.00
Service Charges : 2000.00
Service Tax @ 10.3% : 206.00
___________
Total : 22,206.00

On which the tds has to be deducted Either on the entire bill total i.e Rs.22,206 Or Rs.2,206 or only on Rs.2000.....

Awaiting for your rply, your earliest rply is in need...............

A private limited company dealing in Electronics product and at the end of the year company has decided to show some of regular purchase of product as Fixed Assets. however company has fillied Annual VAT return..
Is it Possible?

Sir,

Return is not filed for an employee as his Total Salary is less than Rs.160000/- but Form 16 can be issued without mentioning the Acknowlegment no. in it.

Dear Experts
I need you kind guidance in belowmentioned points.

1) what is the proper full entry for free samples distributed to create new orders/customers (the entry which affects stock as well as accounts )

2) being a hosiery manufacturer I wish to distribute 2 sweaters to my each employess on diwali ? what should be the full entry in accounts (which also effects stock)

3)if we draw a bill for the strange customer to whome we donot know and wish to receive all the money in cash lets say rs 100000.00 in one cash memo ? what are my obligation towards income tax ?

4) similarly if we purchase a capital asset in cash is it permitted in income tax if yes to which extent it is allowed?

5) One of my client started business in Computers. He purchased 100 computers from his relative for rs 1800000. The relative told him not to pay that much amount as it is in blessings from him for bright careers. What would be treatments in books of both as well as I.T. treatment in assessments


Regards
Vidya Sagar Shukla
accounts.perfection@yahoo.com