is the cs is best option in the studies

Dear sir,

My one of the client accounts the liability (eg: purchase of material) as per the date of the invoice.

In one of the cases, delivery challans are dated last week of march and invoice is received on april first week and they have accounted it on april.

Client is arguing that its their accounting policy to account the entry as on the date of invoice as the liability will arise as and when they receive the invoice.

As per my personal opinion,liability will arise based on the date of delivery(not on the date of invoice)as per the accrual system of accounting. More over the respective liability is in respect of purchase of material.

Due to this,the respective entry is not disclosed under purchases and closing stock of the entity during last year.

Can you please help me out that my observation is correct or not?

what is letter of credit.explain in detail

please the Entries to be pass in books


company having a car which has been used for past few years, now the company has purchased a new car with the adjustment of resell value of old car. example ;

value in books 1st april. 25000/-( bookvalue 5.0 lcs )

value of new car = 10 lcs at invoice
payment to vendor = 9.90 ( after adj. of resale value of old car).

is there any difference if the WDV given on 1st APRIL is Zero. but we are using the assets. rest are same.....

sir, i am in ca final and i want to know what is the procedure to get admission in m.com from ignou university as there is agreement between ca institute and ignou university in which a ca student is required to attemp few exams for m.com degree.

one of our client is into a trading business of pulses nd cashew. they import it from south africa nd at the time of clearing due to shortage of warehouse. .they dnt clear it from port or cfs warehouse. ...so all the additional cost of keeping goods there should be included in cost of inventory. ...and also the cost of container *(detention charges ) to be included in inventory. it is our fault that we r nt clearing it.. hoping ans with reference.

Hi Friends,

Question regarding Import certain good. How to enter in tally.

1. What is the entry for advance payment.
2. If the custom duty and service charges of C& F is totally paid to C&F.
3. What is the entry for import purchase.
4. What date is taken for payment and purchase. If any exchange difference is shown.

plz explain some one about gold etf fund

can anyone plz give me the reason why closing stock is taken in adjustment and not in trial balance for preparing final accounts???

Our company has become Public Limited Company from Pvt.Ltd. Company (by increasing number of shareholders). What are the changes in compliance requirement being public limited company.