Why cloing stock is not appearing in Trial Balance and why Opening Stock is appearing in Trial Balance

Is there any limit on the remuneration/salary taken by the partners of a firm?

Whether Interest on capital credited to capital A/cs is taxable in the hands of a partner?

Dear sir
I want to file income tax return by considering profit @8% of turnover I.e. (8% of 3665000=293200)u/s 44AD but my actual profit is 410457.
Then can I show profit higher than presumptive basis.if we do so then whether we require to submit P& L and balance sheet with Roi.

Suppose a company has two units.
A machine Costing Rs 10,50,000 (Basic cost 1000000 + CST 20000 + Carriage 15000 + L&U charges 15000) purchased at unit A but not capitalized.

Now this machine transferred to Unit B incurring transport cost of Rs 20000.

So what is the amount to be capitalized at Unit B.

Sir, my ca final attempt on may, 16, I have already taken coaching of financial reporting . Should I go for Ind-As coaching or self study. If I go for self study, then Is ICAI MODULE is sufficient. Is there is major changes in Ind-As as compared to AS.

Hi,
I want to calculate Net worth of a proprietorship firm and i am having some doubts so can you please help me out in that.

1) Should i take Car and furniture in assets while calucating net worth and at which value? i.e book balue at book value.

2) Whether we need to include to Security deposits and vat recoverable as well in assets.?

what is the meaning of accounting income and taxable income?

please explain me substance over form with a good example

My client has recently started a consultancy service and took a building on rent .He incured nearly Rs.1 lakh for improvements of the said building like ceiling,construction and partition of walls etc.How should this be accounted? Whether he can capitalize it or treat the same as expense?

Hi,

I have a query in consolidation of financial statements. These pertain to AS 21.

Facts:
H (Holding Co.) has acquired 100% shares in S (Subsidiary Co.). At the time of purchase, the pre-acquisition net worth of the company was negative (Say Assets minus Liability was INR -400). H however paid Rs 10 (equivialnt to share capital of S)to acquire the 100% holding.

Query:
What should be recognised as goodwill amount in CFS. Whether INR 10 or INR 410?
Please provide relevant supporting or logic for the same.