I am not able to understand why do we prepare p&l app Ac? And what all Items do wew take in it? And is it prepared only for companies?

I need a clarification regarding booking of purchase under high sea sale basis.
1.how does purchase are booked under high sea sale?
2.When are risk & reward are said to be transferred under High sea sales?
3.what about treatment in case goods are not received as on closing date?
4.Treatment of expense of custom duty paid in said case (i.e., goods not received on closing date) ?
5.Reference of any accounting standard & guidance notes if any.

what is form 3cb & 3cd ?

My relative has F.D.s in (A) Banks as well as (B) Corporates . Is it necessary for him to show the Interest earned from these two sources in seperate accounts in his Books of Accounts or can he just credit the interest earned from both to the same account , namely , "FD Interest A/c" ?

In other words , does the I-T Act have any different rules regarding the Taxation aspect of these two types of income or from the taxability point-of-view they are just one & the same ?

while filling ITR 1 and claiming exemption under 80G there is a box that is demanding the PAN No of donee to be be put in. As I have donated towards CM Relief Fund and there is no mention of PAN No in the account. Now what should i do to file ITR1 to claim exemption under 80G. Without the mention of PAN No the relevant column is not functional.

actually we have one vender who sign as a proprietor. but when I saw his Pan its last digit is F. so I m confused wht amt of tds to deduct

last yr accrued commission income was Rs.431000 nd received in current year for Rs.360000,here,tds claimed last yr on accrued comm. was 50000.So,my ques. is how to treat this 50000 nd remaining balance of 21000 in accounts??Whether to write off it through capital a/c ?? ( proprietorship concern)

sir i import goods. i make the entry of impor t taking us dollar rate of the receiving date. But i made payment afterwards by taking that day exchange rate. then what should be the exact accounting entry for exhcnage rate fluctuation

If a company has incurred losses in current financial year is it still necessary to calculate Basic Earning Per Share (BEPS) and Diluted Earning Per Share (DEPS)? Since there is a loss this ratio would be negative. It is necessary to report the negative ratio in Balance Sheet as per Schedule VI?

Can Someone PLs tell me the way to Grasp all the accounting standards IN a easy way.................