Recently I attended a work shop at CA Institute where the speaker had mentioned in his one of his power point slides that -


It is better to Soft close once in a month and Hard Close once in a quarter to get periodic insight into the performance of the company.


Please let me know what is Hard close and Soft close?


Please DONT reply based on guess work.


Thanks

oftenly fixed asset namell plant and machinery recieved back in following condition.
1.after compliting fair life
2.repiar and replacment
3.renovation
4.burnand damaged.
5.other not specified
the assets thus not in use will be accounted for on WDV IN stock or in other books of account.

sir,


what are the different kinds of depreciaion?

Please let me know,
which kinds of reserves are created?
How they created and where they can used?

Sir I want to start a online accounting system for my out of station clients. Please tell me how online accounting system works. What are the baisic requirement to start a system of online accounting. Please tell me everything in detail.
CA C M Gupta
cmgupta159@gmail.com

a company has taken a loan to finance its fixed assets but due to financial crisis financial institutes waive some amount of loan and interest outstanding.m what should be the treatment whether it should be deducted from fixed assets and depreciation should be charged on balance amount or it should be shown A profit or some alternative if any

Sir

I want to start a online accounting system for my out of station clients. Please tell me how online accounting system works. What are the baisic requirement to start a system of online accounting. Please tell me in detail

CA C M Gupta
cmgupta159@rediffmail.com

1)if some body resigned from company on Feb`08 but Full & Final payment(with notice period salary) has done on april`08, then how to enter this transaction in books?

2)please give any format for monthly salary entry format which includes all bifurcation e.g.basic pay+DA+Conv.allw.+HRA+PF (both employee+emplyer ded.)with TDS ded.

Example:
Suppose i had booked an export invoice for $100 and get the remittance in $ only.In the year i get a remittance of $92 (Short is received due to deduction of bank charges by the foreign remitter bank) against the above export invoice. Now if i want to take the foriegn exchange fluctuation than what is the base price? Whether i have to take foreign exchange fluctuation on $100 or only on amount i had received ie $92.

Please excplain with the reason.

Hi,

I have the following query:
GOI vide notification ref: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k7/cs102-2k7.htm

has announced refund of Additional duty of customs, on meeting certain conditions. Now, i am an importer-trader. I import goods which are liable for Addl duty of customs @ 4%. Should i add this as part of my inventory cost? Or should i treat it as a receivable?
(Please refer the above link for the full text of the notification)
My Doubt i cannot treat this as a receivable, as there is no certainty. I am eligible to file for a refund only on satisfying the given conditions.

Please guide.

Thanks / Vijay