Can you please guide me how to prepare for CA Final Cost Account papaer. I am always getting the marks between 35-45 after trying so well from my side.
I am right now working can you please suggest the suitable study plan for COst Accounts.
Waiting eagerly for your reply.

Dear Experts,
Kindly advice me in the following situation.
A private limited compnay has been registered in December 2008. For the year 2008-09 there was no operations and consequently no expenses incurred except preliminary expenses. The issue is that the capital is not yet introduced in the company. How should we finalise the accounts as on 31/03/09. If it is not necessary to finalise the accounts as on 31/03/09 under Companies Act as there is a relaxation in the first year, how to go ahead with finalisation for taxation purposes?

A minor construction work completed on 12.08.2009. Invoice raised on company dated 16.08.2009 and it reaceived by the company on 22.08.2009. On which date expenditure will be booked in Accounts?

WE MAKE A EXPORT SALE (USA) OF $106848
BUT IN OUR CURRENCY INVOICE MADE RS.52,67,640/-
& PARTY SEND US A DOLLORS 3 TIMES.
1. ADVANCE $21365 @ RS.49.16 i.e. RS.10,50,284.74
2. AFTER SALE $74786 @ RS.48.73 i.e. RS.36,44,302.29
3. & LAST $10680 @ RS.47.89 i.e. RS.51,14,55.62

NOW AT THE LAST IN OUR ACCOUNT SHOWS OUTSTANDING OF RS.61,598.35

I WANT TO CAN I WRITE OFF THIS AMOUNT?
IF YES, TELL ME UNDER WHICH ACCOUNT HEAD?
IF NO, TELL ME WHAT I DO WITH THIS FIGURE?
TELL ME JOURNAL ENTRY WHICH I WILL USED IN TALLY.

Dear sir,

We are receiving quarterly interest income from the fixed deposit made in the name of our organisation.

The interest income is disclosed in the finacial statement at the net of TDS u/s 194A. Rs. 79.40 is only disclosed in the books. Balance of Rs. 20.60 is disclosed at the year end on the receipt of TDS certifcate issued by the Bankers.

As per the AS 13 the interest income should be disclosed at the gross income basis.

Pls guide me the accounting entries to be passed on the quarterly basis & the disclosure requirement as per the AS 13.

with regards,

R. Gurucharan.

Dear sir,

There is a Term loan of Rs. 1 crore taken from a bank dated 04/07/2007 for the trust.
The bank has not given credit to our Trust Account.

The loan has already been utilised for the purpose of purchase of land and paid in the form DD for full amount.

The loan has been not reflected in the books of account for the FY 07-08 onwards till the FY 09-10.
What is the accounting treatment to be given in the books due to error of omission?

pls guide in this regard at the earliest.

with regards,

R. Gurucharan.

Lont term investments are valued at cost, however if there is permanent decline then it should be consider while determining the value.
My qusetion is how to ascertain such decline in the value of the investment?

Thanks in advance

Hi Experts, I need to know about the new course on IFRS being started by ICAI. Here i am not talking about the course content or fees rather I would like to know the experience/output/feedback of the course. If any of U have done that course please do share Your experience. it would be of great help to me in deciding whether to join the course or not. please reply as soon as possible.

Thanks in Advance.

The Company has paid VAT on purchases. But the goods sold by them after production is exempted from VAT.
The query is:
Q1) Should the VAT paid on purchases be shown as VAT Receivable in the Current Assets or added to Purchases?

Note:The company is filing the VAT Return and claiming the refund but not in receipt of any refund upto now even for the VAT paid since F.Y.2005-2006.

If Business of Grain Merchant
What kind of Accounting System we have to take for it and in which section we have to follow it ?
How they Maintain their Items Stock ?
They have to Maintained Stock or Not? if No so How they have to indicated their Stocks in IT Return.
Pls tell me if this Section relating to any other business.give me the list of it.
Moreover, in Professional Accounting of Doctors can we have to maintained Drugs Stock Regularly ? & in case of Advocate ?
Pls Guide me in that Matter

Thanks for your advice in Advance
pls send me any file on my email ID related to this Query
my Email ID is murtaza_bhagat786@rediffmail.com