sir,

on 23/3/09, we recd a wrong amount(not due to us) of Euro 100000/- in our EEFC account from one of our customer.
When they pointed out the same, we issued the credit note to them for euro 99700/- on 31/3/09 as the bankers would be deducting the bank charges of approx 300 euro at the time of remitting the money back.
The bankers actually remitted back euro 99700/- on 4/4/09.

How should we treat this in our accounts on 23/3/09, 31/3/09 & 4/4/09.

Kindly explain.

Thanks

Subhash

What is CIF value and how to calculate?

are level 2 and level 3 companies exempted from preparing the cash flow statement as part of the accounts?
Since AS-3 is applicable only to level 1 enterprises no?

My question is this - are the level 2 and level 3 companies exempted from preparing Cash flow statement as part of final accounts?

National Advisory Committee on Accounting Standards has prescribed the AS-3 for companies.
Companies act section 210 requires that the P&L and B/S should be laid before the shareholders at the AGM.

thanks in advance

what accounting entry pass in books of main company & division if transfer fixed assets to its new division and currently assets held in main company wip

COMPANY DIVISION DISCLOSED SAPERATLY OR INCLUED ANY HEAD OF ACCOUNTS

Dear Members
A company engaged in Jewellery business. Some customers sold old gold against which they purchase new Jewellery. Suppose old gold worth of Rs. 1,00,000 is sold and purchasea new Jewellery worth Rs. 1,20,000.

In the sales invoice Rs. 1,50,000 is shown as sales against which value of old gold is shown as deduction and the balance amount of Rs. 50,000 shown as amount received.

I request you inform me how to account the above transaction. Whether the gross value of Rs. 1,50,000 is to accounted as sales and Rs. 1,00,000 is to be accounted as purchase or is it sufficient that the net amount of Rs. 50,000 is alone to be accounted as sales.

My company is real Estate developers -recently it had undertaken the construction process of its own project.My question is whether As-7is applicable for us? if yes- then how to be reported -whether the flats already booked will be taken into consideration-another point is whether we are liable to deduct Pf and ESI from the contractors working under us if not having the registration numbers

The Government of India- Ministry of Corporate Affairs has issued a Notification on NACAS Accounting Standard-11. ( GSR 225 (E) dt 31-3-2009. This Notification, I feel is very poorly drafted and difficult to comprehend. Can anyone help me in understanding the proper Accou nting Entries please ?

My corporation is maintained Accounts in Tally, 9 package. Corporation not maintain account in Physical format i.e. like Cash Register manually it is legal or not

What is mean by Small and medium companies and non small and medium companies.
SMC's and Non SMS's
as defined by company rules 2006 section 211
And why organisations are classified on the basis of SMS"s and Non SMC's concept and Level ,I-II-III concept .