Can any body tell me whether increase in authorised capital is preliminary exp or share issue exp? whether such classification will make any difference?

Also please tell me about writting off the preliminary exp & pre-operative exp. I am bit confused because as per AS 26 & Guidence note on Misc Exp it is to be written of in year in which incurred & as per judgement of some experts it can be written off as 1/5.

Can u plz. explain difference between ammortisation of assets and impairment of assets.

In case of an educational Institution a development fund is created and it can be used for purchase of a machinery. The credit balance in the development fund is represented by an equal debit balance in a separate bank balance.

A machine has been purchased. The normal accounting entry would be, debit fixed asset and credit bank account.Now the question arises how to reduce the Development fund ledger balance as bank balance has already reduced due to payment made for purchase of a machine.

so query is:

If we debit Development Fund, which account is to be credited.

A service unit recieves back certain inventory but which is not the intended one.
So we need to block the said transaction from payment in Oracle.
I believe revenue cannot be reversed.
What accounting entry should be passed for invetory receipt such that customer balance is not increased.

Sir,

What is Concept of Debit Note and Credit Note. I am confused that if I Check the Purchase and see the party has been debited so, i requied debit note or Credit Note and panic created in sales.

Thanks

1.As per AS compendium only AS 1,4,6,7& 10 are compulsary .Whether other AS are mandatory on the basis of scope specified in them?

2.Whether AS other than mandatory are applcable to Charitable organisation.?
As per AS Compendium AS are applicable to enterprise but it does not talk about the objective of enterprise.Hence,even if a charitable organisation carried on a business activity it is not exempted from AS.BUT WHETHER AS OTHER THAN MANDATORY LIKE AS 15,19 ,29 ARE APLLICABLE TO SUCH ORGANISATION

Dear All,
Pls let me know the contents of annual reports in brief of listed compnies and tips to interpret to annual reports from investment perspective.
Thanks.
Mukesh Chudiwal

Is it necessary, that only assets(newly purchased) above Rs5000/- be carried forward, as an asset, if yes, can I have some references to it?

what is the definition of scrap???????

how should we determine that any material lying in the godown at the end of the year is scrap or closing stock???

suppose that i m a dealer in cloth, i purchase 100mm cloth out of which i use 95mm for production and i want to consider the other 5mm as scrap but the income tax officer says that it should be considered as closing stock of raw material

so what should i consider the 5 mm cloth (scrap or closing stock of raw material)????

can we capitalize the life time tax on the purchase of car