sir

Please suggeset whether we should capitalise the interest on short payment of custom duty on import of machine.

Regards

Yogesh gupta

Sir,
I want to compute depreciation as per companies act, Should I consider depreciable amount as (Historical cost + Additional Cost + Revaluation amount - Disposal - Impairment),
Is impairment of an asset is considered after charging depreciation or it is taken before depreciation calculation?
If Asset revalued then should I charged depreciation on the revalued amount proportionately?
Please suggest the right way.

Could any one mail me Indian & USGAP standards to my ID : prasannacs_bhat@yahoo.co.in

Dear Sir,

I have interview tommorow & for that i require following answers

1.what is inter company accouting & what are its contains
2. what are major or basic fixed Asset items & rate of depreciation on it
3.how to run or calcuate depreciations
4. what is the full forms of GL

Please help immediately.

I have a doubt in partnership accounts that whenever we take any money of partner and use it in a partnership firm then it is always considered as partner loan.
but if we purchase goods or services from any partners and we pay it him afterwards can we consider it as creditors or as of any other liability or we have to consider it as a partner loan only. And so what is the logic behind this?

What is the main difference amongst the above mentioned AS?
As AS -21 talks about consolidation of parent and subsidiary.
AS- 23 -deals with Investments in associate
AS - 27 reporting of financial interest in joint ventures.

how to find out whether an entity is a joint venture or associate.
a venturer can have any % of holding in joint venture.
associate means holding of 51% or more and /or control thru Board of directores,
suppose in a entity parent co. is having 50% holding as well as members in board of directors of new entity, investment in such new entity how to be treated i.e. as per AS- 27 or AS- 23.
Please reply this querry.


Thanks & regards,

Could any one mail me the statement of Indian Accounting standards & USGAP

Dear Sir/Madam,

We have one query-

If one scenario is there where X company which is an Indian Company has 100% shareholding registered company Y in UK/US/China etc. and the co. wants to raise an invoice somewhere mentioned above for some Software development purpose.

While receiving payment from Party if Y company receives the payt. and then if the same is being routed to X conmpany.

What will be the implication? As per Double avoidance treaty, what is the treatment?

dear all,


i have two queries
1) how is Inventory of Jewellery Valued and Disclosed in F/S.-is there any specific method apart form AS 2

2) How are live stock and animals valued , depreciated and disclosed?

( say a Co in hill station uses Horses or other cattle to Transport goods.
are these cattle a Fixed asset to the Co? if Yes how are these Fixed assets Depreciated? as AS6 does not cover live stocks? is there any other method applicable to live stock )

Could you help me in sending cash and MIS formats