Accounts QnA [Resolved]

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Preethi

This Query has 5 replies

30 April 2008 at 11:18

AS 18 - Related party disclosure

In case of a related party transaction between a company & a partnership firm, is it necessary to disclose the profit earned by the company from the firm in the company's P&L account??

SSA JI

This Query has 3 replies

29 April 2008 at 16:45

100% w/o of asset purchased less than rs 5000,

100% w/o of asset purchased less than rs 5000, as per companies act 1956 ? explain in detaied

suneel

This Query has 2 replies

29 April 2008 at 16:37

AS 11 average rate

Hi Sir,

Average rate for Year 2007-08 what does it mean..
Is it average rate of foreign currency form april 1 2007 to march 31 2008

or average of exchange price As on april 1 , 2007 and 31st march 2008

I would be thankful if any one can help me on this issue

Suneel

Manoj Kumar

This Query has 1 replies

29 April 2008 at 16:20

Sample and FOC

Hi,
If some company has given some material as sample and some as FOC with main item sold, then how to give accounting effect.Whether any compliance under Income tax , or VAT need? Plz give reference if available in any accounting standard, Guidance Note or any other pronouncement.

Natesh

This Query has 1 replies

29 April 2008 at 16:16

AS 19 LEASES

CLARIFICATION REQUIRED REGARDING COMPANY HAS HYPOTHECATED THE VEHICLE AND LOAN HAVE BEEN TAKEN AND MONTHLY REPAYMENT HAVE BEEN REGULARLY DEPOSITED

MY QUERY IS WHETHER DISCLOSURE IS REQUIRED TO BE MADE IN ACCOUNTING STANDARD OF LEASES OR WHETHER IT IS NOT APPLICABLE

SAM KOSHY

This Query has 2 replies

29 April 2008 at 14:39

Take over of a company

How we show the take over of a company (with similar activities) by another company in financial statements.

Amount paid to the owner to transfer the ownership.

Give me the notes to the item in the balance sheet.

S.K.