bank purchased building in Nov. 2014 -bank paid rs.60,000 to municipality for their name on PTR -bank destroy building & reconstruction is going on from basement level now the question is 1)what is the effect of charges paid to municipality? 2)is it necessary for bank to charge the depreciation on that charges as building on march 2015? what is account entry & the effect...explain

What is auto sweepin bank? In which group, this ledger should be opened, under Bank Account or current Assets or current liabilities?

Please help

Ind AS 101 provides two categories of exemptions i.e optional exemptions and mandatory exceptions. What does this mean? what is the difference when it comes to applicability.

Regards,

I am in a confusion whether One AS overrule another AS if both AS is applicable for the company?

The question is arise because of contradiction of Accounting treatment mentioned in the both AS referred above.

In a company advance is paid & deducted by employers at the time of payment during the month & deduct advance from the salary. I want to know under which head advance voucher should be created in Tally. (current Assets or Indirect Expenses)

Thank you for your reply sir. But, a person with a CA certificate( rank holder as well) at his 30 has no prospects at all..I have seen people doing CA @ their 40-45.. is that helpful for them..for companies where skill n expertise matter,they shouldn't be having any problem with age..

as per new act dep is charged on carrying amount of assets on 31/3/2014.what will happen if new assets is purchased during FY 14-15 OR addition made to assets existing on 31/3/2014.

what will be the amount on which depreciation is charged for balance sheet of FY 14-15.

MY FIRST QUERY IS: WHEN SHARE APPLICATION MONEY IS PAID TO COMPANY THROUGH BANK THEN IN THE BOOKS OF PAYER OF APPLICATION MONEY BANK ACCOUNT WILL BE CREDIT BUT WHICH ACCOUNT SHOULD BE DEBITED?

2nd - WHAT IS THE MEANING OF "FRAMEWORK FOR PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS" ISSUED BY ICAI? WHY ICAI HAS CONSIDERED NECESSARY TO ISSUE IT?

A company's main business is Financial consultancy service. But they also trade in shares. My doubt is whether it is to be treated as investment and value as per AS-13 or or to be treated as stock in trade. If stock in trade then how to value it either as per AS-2 or ICDS-VIII Valuation of Securities. Please reply urgently.

I'm a cpt student who is going to appear for the exams after 3 days. In calculation of goodwill do we consider non-recurring profits or we subtract them from the net profits when we are calculating goodwill by capitalisation under super profit method. I have not been able to understand the logic so please do help thank you.