Hello,

I am a mid career IT consulting professional (about 14 years experience) seeking to develop a deep understanding of financial statements. I am not an MBA but have deep understanding of business issues of certain sectors due to my process experience in them (IT, Energy Utilities and Healthcare).

I keen to develop this understanding of financial statements because,

1. Personally - I am interested in investing and want to read financial statements, analyze them and invest in stocks
2. Professionally - To develop a more profound understanding of various businesses, models, capital structures etc.

I need guidance on the path I should follow to develop this knowledge base in Financial statements. Recommendations of books, courses etc would be very useful. Any critique of my intentions would be helpful too.

(Just so you understand the level of my commitment to this task, I can take a sabbatical from work for a few months to develop this knowledge base.)

Looking forward to hearing from you.

if we purchase any agricultre product and use as raw material for production direct from a farmer
how do we account that raw material in our account books as we dont recive any invoice for that.
please help

If the telephone bill (Airtel)is rs. 1000 and the company makes a payment of rs.5000, rs 1000 will be expensed and the balance rs 4000 will be prepaid expense? advance? in current assets? or i will create airtel as a sundry creditor?

sir, i have sold house property in 1st june 2014 amt 25 lac, purchase in year 2009 amt 10 lac, but i am not decided amt deposit in new house property. so what date of amt deposit in capital gain account schene. if i sold the property in 1st august 2014 so what date of amt deposit in capital gain account scheme.

As Institute as notified new Companies Act rules for AS Audit and Law. When will the new material be available.in market. I hav AS book of 2012 edition will there b any major change wid respect to rules??? my attempt is. Nov 2014

Dear Sir ,

1)I have to Pay Rent Amount P.A. Rs.8.00 lac so I have to Deduct TDS 10% on Basic Amount
OR
ON Basis Amount + Service Tax Amount

Kindly Explain.... And

2)Service Tax 12.36% applicable on Amount which is Below Rs.10.00 lac OR NOT

Kindly Explain.....

Dear Sir, goodevening sir,

I WANT TO KNOW THE FOLLWOING DETAILS.

example: IAM STATED EXPORT COMPANY IN TAMILNADU AND PURCHASE LOCAL GOODS (AACHI MASALA) FROM TAMILNADU AND SAME GOODS EXPORTED BY ME,

KINDLY SUGGEST ACCOUNTING ENTRYS WITH FORMS MAY BE ISSUE TO SELLER (AACHI)

THANKING YOU

Dear Sir

please explain me whether cost of rewinding of engine alternator (125 kva generator)paid by our company Rs.50000/-is revenue exp. or it is capital exp.

please clear me urgent

thanks & best regards

Rupesh Kumar Gupta

Hi,

We want to know the PAN No. on the base of TIN No a company.

Company Name- EISA Lifts Pvt Ltd.

TIN No.-09966001683
PAN-?

Please provide the above mention query and also guide us how can it be known from TIN / TAN Sites?

Thanks & regards,

Manoj Kumar Sharma

actual entry
debtors 100000 dr
sales 90000 cr
vat 10000 cr

entry done
debtors 100000 dr
sales 85000 cr
vat 15000 cr

how shall i rectify the error in fy 13-14

since it is a proprietorship firm
should i debit vat & credit capital a/c