Accounts QnA [Resolved]

All Resolved Open

This Query has 3 replies

11 January 2025 at 16:07

Liquidation of a company- treatment of surplus ( negative) in preparing liquidators statement

company balance sheet shows surplus ( negative balance) on the asset side of the balance sheet. How it should be treated while preparing liquidator's statement?

Somnath

This Query has 1 replies

11 January 2025 at 12:11

Capitalization of advance (Incl GST)

Dear All
Is it possible to capitalize an advance (Incl GST) amount with out RA bill in case of construction contract ?

Daya

This Query has 1 replies

10 January 2025 at 12:48

How yto make journal entry of bank Gurantee

What is bank Gurantee and how to make its journal entry.

Daya

This Query has 1 replies

10 January 2025 at 12:20

Accounting treatment of Basic Custom Duty

what will be the adjustment of Custom Duty Paid against import of fixed Assets or Recenue nature expenses.

Akshit Jain

This Query has 6 replies

09 January 2025 at 14:31

NRI as second account holder of resident account

Can NRI be the second account holder of a joint resident savings account where the primary account holder is a resident? If so, are there any limits on the number of such accounts?

CA AJAY KUMAR AGRAWAL

This Query has 3 replies

09 January 2025 at 10:40

Applicability of Ind AS on wholly owned subsidiary company (incorporated overseas)

Dear friends,

We are a domestic Pvt Ltd company engaged in Manufacturing. We already have a (wholly owned subsidiary) domestic Pvt Ltd company. We are going to set up a new (wholly owned subsidiary) company in Dubai for manufacturing similar product, as produced in India. During next year the same will be operational.

I seek your valuable opinions on preparation of FS for FY 25-26 / applicability of Ind AS. Whether: -
1. Ind AS will be applicable.
2. It will be applicable on single or Group companies.
3. Do we have to prepare 2 sets of FS (one as per AS & other as per Ind AS)?

Thanks in advance.