Our company has acquired the following asset: Odyssey Server : Rs. 451670
Licence Fee: Rs. 122527
The cost of the same is "Billable to Client". The assets has been acquired to do exclusive work of the client.

Question: Can we capitalise the Asset in our Books? If yes, pls quote the relevant provisions.

i want to know the accounting treatment of prvision for bad debts and bad debts? We have 5 to six debtors that are unpaid from a year now I want to close the account but not 100% so I can pass the entry example below

bad bebt a/c......dr (under indirect expenses)
provision for bad debta/c (under what group should the provision of badbebts made)

Hi,

Please say me the treatment:
A Partnership firm have 4 partners the firm pay salary the salary paid is to current ac or to capital ac

Partner salary dr
to Partner capital ac or Current Ac

Please Say

please say the accounting standard followed for parntership firm to an accountant

Sir,

From Employer point of view, should a pvt ltd. company deduct pf from any employee whose age is 60 yrs, even if his Basic+Da is Less than Rs. 6500/-

Regards,
Abhijit

Respected Experts,

The company I go for audit Books purchase of imported CD's at the Bill of Entry Rate and not at sopt rate is it correct??
should i insist them to follow AS-11??

Please Clarify

Friendz....
Suppose in a block of assets all assets are being sold in this period and the net impact is loss... In the net block of the depreciation statement we would get a negative figure then...Is der any requirement to disclose it or to delete the Block of asset.. Please help on this..!!!Thanks in advance!!!

As per as 11 foreign exchange difference is to be shown separately.

When some exchange rate is arise on purchase of goods, and if same goods is in stock at the end of closing period.

The payment for same is outstanding on closing date.

Now for example purchase of goods made on 25th March for USD 500000, exchange rate is 45 on date of purchase.

if exchange rate as on 31-03-09 is 45.40 we have to make provission for exchange rate differnce by .40 * 500000 USD.

the material cost shown 500000USD* 45
and exchange rate difference shown 500000USD*.40

the company has policy to show exchange differnce in head purchase expenses and adding the same in cost of material consumed.

the issue is whether the exchange difference is included in valuation of inventory or not.

Sir,
What are the journal entries of TDS Payable & when TDS is Recevied ?

Please explain me with example of amounts.

Thanks in advance !

Hello everybody,
As per AS-19, whether details of rent paid during the previous year should be disclosed in notes to accounts?

Dear sir/madam

I have query about - interior,

The front of party who is done interior work for our office, we are given to them Rs.80,000/- by cheque but front party not ready for given to bill and pancard no.we are not deduct their tds payment time. now any suggetion for this? bill/pancards in important?

Thanks,