We are offering VRS to contractor workers.
Payments will be made by contractors upon
resignation by the workers.
We will reimburse the amount to the contractors.
What will be the accounting treatment and
can this amount be ammortised in five years.
kindly advise
thanks

Hi all
How to value closing working progress under AS-7. Under percentage of completion method total contract price X % of work done becomes the Contract revenue. Then how the closing work in progress will comes to picture.
What is the accounting entries for recognizing contract revenue under the % of completion method?

Hi frendz,
Can nyone tell me th method of valuing Closing WIP in contract works...
nd do cite th relevant AS too...
Please clarify at th earliest..

THANKS IN ADVANCE!!!!

If a Company shifts its head office in the same state only then the expenditure incurred on transfer of Capital Assets will be a Capital or a Revenue Expenditure as per Companies Act,1956 and As per Income Tax Act,1961?

Should Capital Expenditure incurred on transfer of assets from one location to another be capitalised??

Dear colleagues,
accounting treatment for gift recived by company.

Dear colleagues,

Please throw some light on the doubt I am having regarding free samples

accounting tratmet for free samples recived.

EXPLAIN THE TREATMENT, WHEN OUT OF TWO PARTNER ONE DIED, THEN THE REMAINING CAN CONTINUE WITH SAME SET OF BOOKS OF ACCOUNTS OR NOT AS PER PROVISIONS OF PARTNERSHIP ACT,1932

WHAT WILL BE THE EFFECT OF BOTH THE CASES

AND

IS THERE ANY DIFF ON PROFIT WITH BOTH THE SYSTEM.

WHAT INCOME TAX ACT,1961 SAYS REGARDING THAT.

hi friends

whenever supplier charges interest on delayed payments to buyer, correct treatment of it as operating income or non-operating income?

As per suggest correct opinion as per AS-9

I want a depreciation Rates for 2009-10. This rate is charged on Income tax act or Companies Act? I think Income tax Act Its correct or not?