ICAI has come up with AS 30/31/32 which follows IAS 39. As per the standard there is no material difference between AS 30/31/32 and IAS 39.
Q. So, is it an exact copy-cat of IAS 39 or there are some changes to take care of Indian Scenario?
Q. When it is said, there are no material deifference, is there still some difference between IAS 39 & AS 30/31/32?

Many thanks
Vikash Rajgaria

Hi all
please tell me the treatment of assets of Rs.5000 or less under company law for following:

1) Do we need to apply this concept on initial Build out capital expense for a new site?

2) Suppose we have bought 1000 chairs of Rs.4800 each for setting up a new site, do we need to expense it off in a single year.
i have a similar query for the bulk purchase of Headsets and telecom equipments individually costing less than Rs.5000 purchased for setting up a new site?

what is meant by the debtors and creditors reconsilation?

We are about to finalise 31.03.2008 balance sheets of all the companies. In this situation, if the court orders for amalgamation w.e.f., 31.03.2005, then what shall be the base balance sheet of transferor company to include in tranferee company. If 31.03.2005 is the base balance sheet, what will be the effect of transactions occurred during the period 01.04.2005 to 31.03.2008

1. why is balance sheet not prepared in this system?

2. " non cost transactions are fully recorded by this system". what does this sentence mean and signify?

3. Why do we have to reconcile profits in this system?

1. why is balance sheet not prepared in this system?

2. " non cost transactions are fully recorded by this system". what does this sentence mean and signify?

3. Why do we have to reconcile profits in this system?

1. why is balance sheet not prepared in this system?

2. " non cost transactions are fully recorded by this system". what does this sentence mean and signify?

3. Why do we have to reconcile profits in this system?

Coul someon pl temme a good book on "Commentary on Accounting Standards" where i can get d interpretation in lucid & simple language...

We made a pymt of commission of Rs. 250000/- on which forgot to deduct tds.

Now the transaction is been caught. On this we have to deposit TDS alongwith interest for the period.
Also the tds return is to be filed, which is also delayed and penalty has to be paid.

Question is, in which financial year this interest & penalty charges are to be booked as pertains to transaction related to last year..

Dear Sir,

Suppose an Individual Give Rs 1000/- in the Trust operated by bank Later on it will be refunded.
My query is Under which Group Head should i show the same

Regards

Ravi Konda