HI,

I wanted to know whether indian a/cing standards will be in applicability ALSO after applicability of I.F.R.S.??

Secondly, What about IAS(international a/c. stds)..?? Will the financial statements be required to be disclosed on the basis of IAS OR AS IN CONTINUANCE..??

Pls let me know on my mail id
raghani_yogesh@yahoo.com

Hi,
1) suppose a firm has purchased a building and has let it out. the firm buisness is not of letting out.i.e. building is investments
building being a depriciable asset should it be depriciated.
2) In other case building initially purchased as fixed asset. but in course of time it has been let out.so should building be transfered to investments?what about depriciation.
e-mail me:-ankit.maisheri@gmail.com

I wnt to knw abt c & f accounting wat it includes

I would like to know as to the basis on which a company decides on whether to capitalise an expenditure or not. The normal stance is that where an expenditure is likely to give an enduring benefit, it is to be treated as Capital and where the benefit does not extend beyond a year, the same can be charged off in the same year. The query is whether this basis is as per Accounting Policy of each company or is it governed by the Accounting Standards issued by ICAI?

Dear All,

If we do remittance to some country abroad where we are forming a company and and for the company formation purpose we are sending fees to our consultant in that country. If we show this transaction as loan in our system in India and later on we will recover the loan from that company in that country.

Is it a right treatment given in accoun t records?

Is it mandatory to made provision for deferred tax liability/ Assets?

A company had not made provision of deferred tax from last 4 years.
my question is whether provision for current year to be made or to leave it as it had not been made in last years.

Apart from minutes book what are the other stautory registers kept as per companies act 1956

Hi Experts,

If a Vendor raised a bill for a perticular service Bill amt. is Rs. 5000/- & given discount 35% on Rs:5000/- Then Amount(5000-35%)= 3250/-

Pls Tell me that on which amount Service tax will be liable.? Either on Rs:5000/- or after diduction of Discount i.e. Rs;3250/-

Thanks,
Vijay

Items like MODEMS have since been rendered as obsolete before completing their useful life and these are being carried at their book value. However, it is clear that these are of no use any more. How the same should be dealt with in accounts and what are the implications in Income Tax and Companies Act.

If there is import of fixed assets & such fixed assets are lying in bonded warehouse.
how such assets will be treated in books of accounts?
whether such assets will be shown as fixed assets since risk & reward are transferred by vendor.
what about depreciation as per income tax act & companies act.