Dear Sir, A company have 2 directors. They owned the5-6 cars and RC is also on his names. They got a vehicle loan on it and that money directly came to company A/c from lenders. Auditor is showing as company Assets and getting benefits of Depreciation and other tax benefits. So please suggeat is he right , as per rules. kindly explain. Sanction letter is on the company name.

on 31st march 2001, the closing stock of X ltd was rs. 345000. on 1st april 2001, stock of 225000 was destroyed by fire . if the balance sheet of the company on 31st march 2001 was finalised on 25th april, 2001 then the balance sheet will show closing at 345000. my doubt is whether this loss is disclosed in footnotes of balance sheet or not....

How to consolidate accounts if a company A holds more than 20% preference shares of company B .? No equity shares are held by company A of company B.

coal accounting for thermal power generating company.

How to account for shortage in coal received from government regulated mines.
Is shortage is to be accounted or total cost to be divided by total qty receipt at plant for the deriving per tonne cost.

Could anybody please help me to understand.

What is the exact procedure or process flow of Accounts Receivable?

Thanks

Dear experts I got data from last year for tds payable in balance sheet.. But I m not sure for that figure. Is it actually figure or not. So I want to know the actual balances of return filled. How I can get it please suggest for the whole process. Thanks in advance.

AS 21 specifies " Only the notes involving items which are material need to be
disclosed. Materiality for this purpose is assessed in relation to the
information contained in consolidated financial statements. In view
of this, it is possible that certain notes which are disclosed in
separate financial statements of a parent or a subsidiary would not
be required to be disclosed in the consolidated financial statements
when the test of materiality is applied in the context of consolidated
financial statements.
Additional statutory information disclosed in separate financial
statements of the subsidiary and/or a parent having no bearing
on the true and fair view of the consolidated financial statements need not be disclosed in the consolidated financial statements.
An illustration of such information in the case of companies is
attached to the Standard." Should notes pertaining to AS 15 be disclosed in consolidated financial statements? In what way does it have a bearing on true and fair view of the consolidated financial statements?

our company has a profit as per books of a/c is rs . 50lakh. but in income tax there is loss of rs 1100 lakhs due to deduction u/s 35AD. I have a quary whether this will be create deferred tax assets or deferred tax liability. please substance your answer in details.

Hi
any body can help me how to account discounted cheques from banks pls provide me the journal entries

Thank you

can any body share to me the Depreciation calculation Excel sheet for Assets and Furniture in a partnership firm