We are running a rice mill we joined in a chit and got auctioned the chit and the auction amount received through chit was invested for rice mill machinery how to account these transactions

Chit Value - 20,00,000
Amount Received - 14,00,000

How to account chit dividend and bid loss

bid loss to deferred to Chit instalments or whole bid loss shown as loss in which the year the chit auctioned please clarify

Dear Sir/Madam,

I have a query in respect of reimbursement of expenses.

Currently as i understand any invoice raised in respect of reimbursement of expenses goes as credit to expenses instead of revenue.

If the contract is inclusive of expenses, it takes the shape of revenue.

Hence, wanted to know whether there is any possibility of recognition of revenue on reimbursement of expenses if the contract is not inclusive but exclusive.

I am given to understand that as per US Gaap, the same can be taken as revenue...

Would Indian Gaap also allow me to do so...

if yes/ no.. can you substantiate with any guidelines or write-up...

Thx in advance...

Dear Sir we have booked bill in sept-08 and oct-08 without deduction of tds now we are making payment after deducting tds. So please suggest us that will we defaulter or not for tds deduction

i am a fresher and interested in specialization in finance how should i go about learning various terms and concepts in finance.

can someone explain me the accounting effect in respect of conversion of an agricultural private limited company into public limited company with same objects........!!!! plz help me...

Dear Sir,

In the course of internal audit I request yourself to explain me and the areas to look in with reference to the above BRs statements and also kindly let me the brief idea of the accounting procedure that will be inculcated in Export Business,

Reply to maheshkulkarni29@gmail.com

thanks in advance

Regards,
Mahesh Kulkarni

Dear Sir,

In the course of internal audit I request yourself to explain me and the areas to look in with reference to the above BRs statements and also kindly let me the brief idea of the accounting procedure that will be inculcated in Export Business,

Reply to maheshkulkarni29@gmail.com

thanks in advance

Regards,
Mahesh Kulkarni

Dear Sir,

In the course of internal audit I request yourself to explain me and the areas to look in with reference to the above BRs statements and also kindly let me the brief idea of the accounting procedure that will be inculcated in Export Business,

Reply to maheshkulkarni29@gmail.com

thanks in advance

Regards,
Mahesh Kulkarni

Dear Sir,
Please give me all depriciation percentages as per accounting statndards and income tax standards it is very very necessary for me.

I would like to know the presentation of deemed export sale, wether it should be trated as domestic sale or export sale.