if purchase software of Rs: 50000 in a compnay ,wheather we need to consider it as addtions to FA

if RAM of Rs: 2750 purchased for laptop in a compnay ,wheather we need to consider it as addtions to FA

Dear All,

I am working in a private Limited Company. But in this company I observed that employees are using their personal credit cards for making official payments. Also in one case somebody else's credit card has been used to book ticket of another employee.

Is it a proper practice or we should have corporate credit card for official expenses? As per my opinion they should not execute such practices in an organization.

Dear Friends,

I have this query regarding Depreciation Accounting. If an asset is purchased on say, 01st Apr 2000 with estimated life of 10 years and its depreciation rate is given 25% p.a. on Straight Line Method. What will its treatment in books of accounts after 4 years..?

It is an ICWA exam problem.

We have an agreement which speaks that they have commitment for x no's irrespective of whether X will be executed or not. We recognise Income when we get the booking of X and then x is delivered at a later date. Now the query is X should be recognised on booking or on the basis of delivery. AS-9 speaks that Income should be recognised on Delivery but it is very silent when we have commitment from the customer for monies received.

An exporte from Maharashtra dispatches goods under TAX INVOICE through a logistic contractor to Europe. The goods are stored in a godown in the city where the customer is located (i.e. in Europe) . The rent, insurance etc of the godown is paid by the exporter. The commercial invoice is prepared only when the goods are lifted by the customer from the godown. The payment terms are also based on Commercial Invoice. At what point of time the accounting of sale shall be made? Whether at the time of dispatch of goods from the exporters factory or at the time of Commercial Invoice.

example : dealer- culcutta, supplier- hyderabad & user-maharashtra

If hyderabad manufacturer send the material directly in maharashtra by showing in invoice the buyer(dealer-culcutta) & consignee(user- maharashtra) & culcutta dealer raised the commercial invoice to maharashtra by claiming C-FORM by adding it's margin, then what will be the billing structure & tax details.

If a company actuary valuation earned leave there after find some of employee skip by valuation....

then my queary about what accounting treatment required if company not go revised actuary valuation

I want to know about sales in transit transection. Let me know when any deler who is in culcutta purchase from Hyderabad and sales in Maharashtra then whats the process for sales in transit. there goods should be enter in to culcutta or it can directly sent to maharashtra. who can issue form "C' and "E1". What invoice should raised by the culcutta dealer to the user(maharashtra) & what breakup he will give in invoice, i.e.- basic, excise duty & cst, ect.

what is difference between fund, provision and reserve. Give accounting treatment of any fund which is create for purchase of Assets.