IS amendments in AS-11 is applicable for june 2009 exam(pcc)? If yes, plz provide me AS-11 with amendments.

I have my june attempt and am almost done with my Accounts course ,, But am left with Balance Sheet of Electricity / Insurance , Issue of shares , Fial Accounts . How should I go over them according to the level of importance .

I would really appreciate an answer .

Hi

It's a PVT. LTD. Company having established in July, 2008. My query is

1. whether we require to create provision for Gratuity in our books as on 31st March, 2009.

As we have not completed even 12 months of service as on date, whereas The Gratuity Act, as far i know applicablity of that Act arises on the organisation or employees who completes 12 months of Services.

On the other hand, Gratuity liability arises only after 5 years.

Please explain the relevant provisions of Act or paragraph of AS-15 relevant to this.

If it is mandatory for our organisation to disclose that

Then I think it's sufficient without providing in the books we will disclose in the notes to the accounts such as

1. The provision for Gratuity of INR .......has not been provided in the books, the same will be booked on actual basis.

Please gives your best opinion on the same at the earliest, as it's very urgent.

Thanks.

Best regards,

Rakesh

Hi All,

Can any one explain about Solency Ratio with formula.

Thanks in advance

I WANT TO KNOW THAT WHETHER THE PROPOSED DIVIDEND WILL BE DEDUCTED TO FIND OUT THE EPS?BECAUSE TO FIND OUT THE EPS WE REQUIRED PROFIT AVAILABLE TO THE EQ. SHARE HOLDERS AND PROPOSED DIDVIDEND IS ALSO BE PAID TO EQ. SHARE HOLDERS.WHAT WILL BE THE EFFECT OF GENERAL RESESRVE IN CASE OF CALCULATION OF EPS?

I have 2(A&B) properitorship concern.B business is closed on 31.03.08. But B have rceivables as per books of accounts as on 31.03.08. B's receivables received in 2008-09. A&B have separate bank accounts.I have purchased commercial Motor Vehicle for business use in 2008-09 in the name of A comcern.But EMI of that vehicle paid from B's bank account.In this situation receipts(EMI) from B's account i treat in books of accounts A as a capital addition.

A fire occurred at manufacturing plant of a firm on 1st jan2009. The machinery was fully lost. Insurance claim received on 30th April 2009 for 80% of the value of lost machinery. What would be the treatment for these events in the accounts for yr ending 31.03.2009

An Indian co. purchased some assets in foreign currency eqv to Rs 50 million on credit.At the year end the creditor is still outstanding in the books but the co. made an unrealised gain of say Rs 5 million on that.

What will be its treatment in accounts and Tax computation ?

Will there be any deferred tax impact of such unrealised gain ??

Hi

A company is paying conyance expenses to the audit staff of quality auditors . Now whether this expenses should be shown as reimbursement to auditor or as should be shown as Conyance Expenses. FBT is not applicable on the said expense.?

Plz Reply

i observe on partnership deed that partners of the firm mutually agrees to pay interest on capital @12% from 1.4.05.
now if some one of the partner withdraw more than its capital than is he is liable to pay interest on drawings.