Hi,

Can someone tell me what all documents to refer for point of recognition of sale.

Actually in case of domestic sales, we consider the point of despatch as revenue recognition point.What is the logic? Is it correct as per IFRS and Indian GAAP?

For export sales, for CIF sales, we reverse the sales for which Bill of Lading is not yet made. I want to know the correctness and logic for this as well.

If someone can urgently respond on this, thanks

land is in dispute (dealt by High
Court). But sale deeds are clearly specified in our name. Advocate
informed us the source document to recognize the asset in our books is
sale deed. Hence we can recognize the asset in our books with a notes
on accounts indicating dispute on land at High court.
My question is whether i will so that land in my books of accounts if yes what will be the treatment.

Another qouestion what will be the profit or loss if i court final decision will go in my fabour or not and say the treatment

Profit on sale of an asset, to the extent of the depreciation charged off till the date of sale is to be credited to P&L and the balance credited to Capital Reserve.


IS THIS CORRECT??? Where at all in companies Act do we find such a provision??

Kindly help me out!! and fast!!

Whether provision for filing fees required for filing of Annual Return & Annual Accounts of Financial year in the same f.y?

State with reasons whether the following statements are true or false
(i) Errors of omission will not affect Trial balance
(ii) Piece rate method can be adopted in any industry.
(iii) Credit sale of stationery by Bombay Stationery Mart will be recorded in
Sales book.
(iv) Fixed cost per unit changes and variable cost per unit is same.
(v) The entry for bill of exchange discounted with the bank is passed in the
books of drawee of the bill.

give one word or term:-
1.commission given for taking over responsibility of bad debts by consignee?
2. charges paid on dishonor of bill of exchange?
3. cost that vary with output not in same proportion?

what is "profit & loss appropriation account"? describe briefly.

Hi,

Can anyone guide me as to which accounting standard is applicable for real estate developments capitalisation considering the following points -

a) AS-10, I believe is not applicable , as expenditure on real estate developments is specifically excluded in the standard.
b) Where the co. is engaged in construction of commercial properties and leasing these out, what would be the time when the project can be capitalised, if the building is complete but external developments eg facade etc are still going on ? Can partial capitalisation be done in such cases? (Further, the rentals have started generating as these have been handed over to the tenants for interior fit outs)

Thks

how the treatment of advance tax paid at the time of finalisation of account for the current year?

Respected Sir,

Pl guide me that, in usually in partnership firm we issue the interest to partners for the capital. but if they take the excess amount (overdraft)from business then what will be interest rules.

thanking you,
yours sincerely

v s konkati