Thanks sir.

Actually i have to audit a manufacturing (KSFL Urea manufacturing unit)concern in which insurance spares is purchased since 1982,so can the same rule b applied to that also cause that is amount of Rs.85lacs (Approx) and no one knows when we will install it.

Sir,
Kindly clarify my doubt
Any Expenditure incurred in the nature of fixed asset shoud be capitalised, but what should be the minimum value of the expenditure to capitalise.
is there any circular or is there any note in the as-10.please confirm me

Thanks and
regards
Bandari.

hi! i want to know which date to b treated as capitalisation date,i mean when we receives an assets but transfer it to stores and some installation cost is yet to b incurred and after some months we install it so like installation date is 1.4.08 and purchase date is 1.11.07 and store receipt voucher date is 15.11.07.
can we do so that consider aasets in book at the time of purchase and start considering for depreciation at the time of installation.
please clarify with the reference of AS-10 & AS-6

Whether as per revised AS 15 it is mandatory to get certificate from actuary in respect of "Leave Entitlement"?
Case - Employees are allowed 25 PL in a year & they are allowed to accumulate upto 75 only otherwise it will lapse.
Since it is allowed for short term whether actuarial valuation is mandatory or mere provision in books will be comliance of AS 15.

Dear All,

Pl. clarify :

Whether the amt paid to MSEB for sanction of additional power supply (other than deposit) should be capitalized ?

Would you please solve this question?

From the particulars given below, prepare the Balance Sheet of X Ltd. on 31st March, 2005.
Particular Rs.
Annual Sales 4,00,000
Sales to net worth 4 times
Current liabilities to net worth 50%
Total debts to net worth 80%
Current Ratio 2.2 times
Average collection period 40 days
Fixed assets to net worth 70%.
Assume that all sales are made on credit.

one of our staff went to kolkata for investigating on purchase of machine from Germany.so in which A/c head it may go.

thank you with regards

What is meant by Red ink Interest?

Sir,
i am the one and only articled assistant in my firm.My firm is newly established firm
from monday onwards i am going to internal audit of one real estate company.this first audit for me
please advice in which areas i have to be focus and which types of expenditure we have and which acts and taxes will be applicable please advice me.


thanks and
regards
bandari.

my boss is going to abroad for official visit, for that we bought foreign currency form authorised dealer , let me know the accounting entrie for the above transaction.