As per Accounting Standard 10, cost of fixed assets comprises purchase price & directly attributable cost. But in relation to construction of a project administrative and other general overhead expenses may be included.
My query is whether all kinds of administrative expenses (like printing & stationery or general expenses or salary to office staff etc)incurred in the corporate office can be capitalised?

is proposed dividend considedered as event accuring after balance sheet date as per AS 4 ?
It means it can be considered as contingent liability as it is only proposed by directors and it will be final after approval of share holder.i believe that proposed dividend is appropriation of profit of particular financial year.

Can you please suggest me a book for AS - PCC , I have a book from Mr Bhagwan Lal , but when I compared the same with that of Mr Praveen Sharma AS - Final it was exactly the same . please tell me a book from the examination point of view.

A Machinery was purchased which is not a qualifying asset as per AS 16. A loan was obtained to purchase the machinery. While the loan was obtained, Stamp Duty Charges were incurred.

Pls clarify whether the Stamp Duty Paid for obtaining loan can be capitalised?
or
stamp duty charges can be treated as borrowing costs and accordingly charged to P&L Account as the machinery is not a qualifying asset?

A Machinery was purchased which is not a qualifying asset as per AS 16. A loan was obtained to purchase the machinery. While the loan was obtained, Stamp Duty Charges were incurred.

Pls clarify whether the Stamp Duty Paid for obtaining loan can be capitalised?
or
stamp duty charges can be treated as borrowing costs and accordingly charged to P&L Account as the machinery is not a qualifying asset?

Dear Experts,

Pls advice me on the following whether FBT is applicable? if so at what Rate?

1. Broadcasting/advertising thru Radio FM channel

2. Internet service from Hathway/Reliance

Advice me at the earliest as I have to file FBT return accordingly.

Thanks& regards

Radhakrishna

ca

Kindly may any body give me explanation about
accounting procedure about inventory with Excise, Vat

what is a qualified asset.
a loan is taken on 30/03/2007 & utilised for construction of a building shed which is complete with in 28/02/2008. is it a qualified assets?

Dear All,

X company had sent 100000 US$ @Rs.40/$ towards share application money in the month of may 08. In February they have received 50000 US$ @ Rs.50/$ towards returning of share application money.

Kindly let us know whether Diffarence of Rs.10/- per USD on 50000 $ needs to be taken as Forex gain or can we credit the same to Share application money account.

Please quote the answer with refarence to AS or any other pronouncement.

Thanks in advance,
Hari Krishna

An individual purchased Gold or silver utensil for household purpose and gold or silver bar or coins, is it debited to jewellery under Balance Sheet or under any other head.