how to incorporate bank interest earned from foreign bank a/c which is not shown in the books

IF MR X INTRODUCES HIS VEHICLE PURCHASED BY HIM 3 YRS AGO FOR RS 5,00,000.00 IN HIS PROPRIETORY BUSINESS WHAT SHOULD BE THE VALUE OF THE INTRODUCTION. ALSO IF THE RATE OF DEP AS PER THE I.T ACT IS TO BE APPLIED THAN SHOULD WE CONSIDER THE 182 DAYS CRITERIA.

May i know best way to reconcile the bank statement.

Can any one guide me about the accounting treatment of the FOREIGN EXCHANGE TRANSACTION? The details of the transaction are as mentioned below;

Purchase Order of Machinery
07.06.07
Euro 100
Ex. rate : Rs. 54/euro

Advance payment
11.06.07
Euro 20
Rs. 54.95/euro

LC issued
15.11.07
Euro 80
Rs. 56/euro

1st Invoice date
31.12.07
Euro 70
Rs. 57/euro

Payment against 1st invoice
18.02.07
Euro 60
Rs. 58.42/euro

2nd Invoice
31.01.08
Euro 30
Rs. 57.75/euro

Payment against 2nd Invoice
07.03.08
Euro 20
Rs. 62/euro

Erection & Commissioning Adv payment
03.04.08
Euro 5
Rs. 62.60/euro

Invoice of Erection & Commg.
30.04.08
Euro 5
Rs. 64/euro

I have recorded the payments at actual amount paid.

Now I am confused about the accounting of fixed assets that at which rate I shall account the both invoice and how to adjust the difference arising due to exchange difference?


Thanks & Regards
Rohit Boraniya

Please guide me whether it is compulsory for proprietary concern to maintain their accounts on Cash basis ?

Thanks,
Abhishek Jain

What are the key performance indicators(KPI) normally set for finance / accounts people ?

Kindly send me if you have any documents on KPI.s

Thanks and regards,

Anil.
nkanil@rediffmail.com

Dear sir.

I am an accountant, please discribe me about DEPB Licence.
How i can provisoin for DEPB Licence and other rules.

1) For how many years, cooperative banks have to preserve their records, books of accounts, vouchers etc.?

Adjustment:A and B cos are going to get amalgamated,to form AB Ltd, there is a contingent liability in the books of A Ltd;worth Rs 60,000.The question is asking us to treat this as a actual exsisting Liability .How do we account this in the books of A Ltd;and also in the books of AB Ltd.

In an audit of college we had a doubt regarding income. In the college ,batch starts from july and ends in next june .The college is collecting Rs 100000 towards yearly fees from each student . The college is receiving amount whenever the student pays . Most of the fees is collected in 2007-2008 and some fee is received in april 2008. Now I have a doubt that, how income should be shown in the books of accounts if the F.Y. of the college ends on march 31st 2008.

Bhargavi