Why should we make provision for each month/ year? if we not make a provision entry what is the impact of books of accounts. this is mandatory for AS, or if not, we are Voilation of any act. what is the clear purpose of provison entry? give some examples & impact of books of accounts? (whether prudence perpose we make a provision enty)

kindly tell me as per company act the varios assets which fall under fixed asset.while preparing FAR what treatment should be given to CST,VAT,SERVICE TAX,FREIGHT,ETC.

Freight & Demurrage incurred on purchase of any asset should be taken in which account i.e whether in Respective Asset A/c or in Freight Inward A/c.

Revert at the earliest..


















































































1

As per new AS15 Revised , Acturial valuation for Gratuity and Leave encshment has to be computed under projected unit cost method so is it necessary to recompute Acturial valuation for Gratuity and Leave encshment for previous year 06-07.
and show the trasitional liability seperately in the current year 07-08

On April 08 Company revised the salary of employees w.e.f 01-01-2006. and subsequently excess amount of salary paid
if such expense is booked in the F.Y.2007-08,is it regarded as prior period item?

HOW WE DEAL WITH PRELIMINARY EXPENSES ACCORDING TO ACCOUNTING STANDARDS

WHETHER ACCOUNTING STANDARD 26 IS APPLICABLE FOR IT ?


PLEASE ALSO ELABORATE THE ENTRIES TO BE MADE IN THE BOOKS RELATED TO IT

Dear All,

I had paid Rs 15000/- to our employee as medical re-imbursement. Is it liable to pay FBT on medical re-imbursement. what is the section code & what is the rate.

Thanks

Rahul

Hi, my name is Rajneesh Jaiswal, i want to know can a co-operative society consisting of offices can capitalise interest on fixed deposit wihtout reflecting in Profit & Loss A/c ? what will be the implications from income tax and accounts point of view?

A partner of a firm died. On the date of his death, the balance outstanding to his current A/c is a debit balnce.

Inthis case which rule should i opt.
is garner v murrey rule or section 37. the balnce to his capital is still to be settled.

What is the meaning of operating & non-operaring expenses & also give examples?