What are basic points should we take in consideration while Balance Sheet.


Regards

Bhaskar

As per para 15 of AS 11 Exchange difference arising on a net investment in a non-integral foreign operation (Foreign Subsidiary) should be accumulated in a Foreign Currency Translation Reserve in the Enterprise's financial statements until the disposal of the net investment, at which time they should be recognised as income or as expenses in accordance with para 31.

As per para 31 the exchange differences which have been so deferred/accumulated should be recogniosed as income or expenses at the time of disposal of a non-integral foreign operation.

Now query is as follows -
When such exchange differences are to be accumulated and not to be recognised as income or expense when the investment is in force what accounting treatment should be given.

One effect is to be given to Foreign Currency Translation Reserve as per para 15. Where the second effect can be given?

Whether the second effect can be give to the investments? If yes, can the value of investments be reduced if there is FE loss?

Please note that the financial statements of subsidiary are not consolidated with the enterprise's statements.

Dear Sir/Ma’am, Please give some information regarding finalization of books of account,its prosess and step,it will very helpful for me to get better prospect in my life in accountancy,I will be you thanksful for this regards.

I am santosh mishra, B.com grd. from MU. I am free on saturday and sunday , there is any part time job for accounting entiris or assist. I am stating at Mumbai.
Mob.9892133923
mishra121@hotmai.com

What will be the accounting treatment for grants received by a PSU for making VRS payments?

Dear Sir

Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.


Naveen.

RESPECTED SIR/ MADAM,

AS PER AS-29, WE HAVE TO MAKE THE PROVISION FOR THE ITEMS WHERE POSSIBILITY OF OCCURANCE " MORE LIKELY THAN NOT".

IN THIS CASE, WE KNOWS THE PROBALITY OF OCCURANCE OF THE ANY OF THE EXPENSES DURING THE PERIOD OF REVIEW.

IN THIS CASE SOME OF THE EXPECTED EXPENSES FALL IN THE AREA WHERE TDS SHOULD BE DEDUCTED ON THE SAME, HOWEVER THE BILL WOULD NOT YET COME.

HENCE I WANT TO KNOW THAT WHETHER WE HAVE TO DEDUCT THE TDS AT THE TIME OF PROVISION OR AT THE TIME OF RECEIVING THE BILL FOR THE SAME.

PLEASE REPLY IT AS SOON AS POSSIBLE.

REGARDS,

PRABHAKAR

RESPECTE SIR/ MADAM,

I WANT TO KNOW ABOUT THE REPO MARKET REGARDING WHAT IS THIS AND HOW IT WORKS IN THE MARKET.

REGARDS,

PRABHAKAR

Hi, Can anybody plz inform me that how should the Interest paid on delayed deposit of TDS, FBT and Service Tax be shown in books of A/cs i.e can deduction be claimed in that regard or not?

Please let me know for whether the following is to be capitalised or expensed, if to be capitalised duration over which depreciation is to be charged and the head under which it is to be capitlised,the reason for capitlaization. Note that the software can be used for any number of years.


1)Software bought for Accounting and Administraion.The source code remains with the seller.


2)Software bought to develop other software.The source code remains with the seller.


3)Software bought to run a machinery.The source code remains with the seller.


4)Software developed for a particular customer but not sold yet.The software is customised to his needs and only the customer can use it.What if a)Customer is sold the source code b)The source code remains with seller.



5)Software developed meant for Sale ( Not meant for any particular customer). There is only one copy of the software. Copies of it are made and sold to customers as and when demand arises.The source code remains with seller. If you say this is inventory -just by taking another copy of the software and keeping it ready, will my inverntory value double?

I had sold goods in the month of Jan’08 and same were return in April’08.In this case I would like to should we give the effect of sales return FY07-08 or FY08-09.Can we adjust sales return in FY07-08 till the audit is finalized.