As per AS 2,
definition of inventories includes:
"assets in the form of materials or suppliers to be consumed in the production process or in rendering services."

what do me mean by this? please explain comprehensively with an example if possible.

We are Electricity Transmission company. Before installation of 'Electricity Transformer', we make survey of land and assess it for feasibility of project. There may be gap of 1 to 3 years between above exercise and actual construction of Asset. My question is - Should the expenditure on survey and preparation of feasibility report be capitalised with cost of Asset as 'Development Expenditure' or should it be expensed out as 'Research Expenditure' as given in AS-26 Intangible Assets ?

Dear Sir,
I'm working as accountant & our company mainly deals with Sales & Marketing Back Office like Advertising, Campaigning, Lead generation & Market Research.
So Can anyone please tell me whether ESI is applicable to our Service Rendering Company?

Regards
Vikram B S

Hi
Dear Sir
How To Treat if the Hotel & Restaurent Purchased Some Steel Glasses & Some other Steel Items For Use In Kitchen & For Supplying to Customers These Cost Is Very Less Say About 2000 to 15000 It is An Fixed Asset Or It Can Ba Shown As Direct Expenses If It Is A Fixed Asset What is the Depreciation Please Explain Me Clearly To My E_ Mail ID Sreenath4a@gmail.com

On what basis general admin. & selling expenses is to be apportioned in construction business? What basis is to be adopted to apportion among projects..... say 2-3 projects. Whether this is to be taken before or after arriving % of completion?

Dear Experts,

When should be the exact date of booking a transaction in books? Is there any consequence if date of bill and booking the entry is too late i.e. around 5- 6 months repeatedly from the GAAP point of view and companies Act point of view? Is there any limitation of time in this regard under any law or other principles or conventions of accounting?

It is urgent please reply soon.
Thanks in advance
Happy day!

Can anyone please explain, why the closing stock appears outside the trial balance????

Rent Paid Prepaid-Rent or Monthly-Rent Basic. Can we accomodate Provision for Monthly Basic or not. If provision is Passed then TDS liability Calculate for this Month or Next Month.

Tally ODBC helps establish a dynami connectivity of 7.2/9 with excel. When used for creating a trial balance in excel, we can then prepare B/S & P&L in excel as well that will adjust as per changes made in taly. My question is, such a trial balance is arranged in a certain way in excel and is connected via formula to cells in B/S n P&L. If we create a new A/c in tally this arrangement changes nd thus all the figures in B/S n P&L need to be connected again to the T.B. cells nd this disadvantage nulifies ODBC utility to a great extent since greater portion of excel sheets need to be reworked then. Is there a proper solution to this?

Hi All
My query is abount accounting of preliminery expenses of Pvt. Ltd. Co.
Authorised, Issued & Sub Capital Rs. 1 Lakh
No Investment in Fixed Assets
Preliminery Expenses incurred Rs 16236
My Questions are:
1. 2.5% (max) of Prelm will be amortised ?
2. 1/10 will be allowed each year ?
3. if yes, what accounting treatment should be given for remaining exp