Dear Experts, Please advice to me in following case:

A Ltd, year ended on 31/03/2013
there was fire in godown as on 05/05/2013, and major capital assets and inventory burnt in fire, insurance policy covers only inventories and only two capital assets.


Now how to disclouser made in FS of A Ltd. of above event in the FS year ended 31/03/2013.

In introduction part it is given
this accounting standard that " this standard is applicable to all business reporting enterprises whose turnover exceeds 50 cr

what is the defination of business reporting enterprises
limited liability Partnership included

Respected Sir,

i am working as a contractor and my firm is registered under sales tax department of uttar pradesh. which form should i file for my return. i already file form 24 for return is it correct or any annexure is to be included with it ? Please advice me soon

Thanking you

Shishir

Fixed assets purchased on FY11-12 for 2,50,000. Dep. provided for fy11-12 6,750, as per companies act.

During FY 12-13, an amount of 1,00,000 was reimbursed by a third party towards purchase of such fixed asset.

How should this be treated as per companies act? Should the amount reimbursed be reduced from gross block or net block?

I bought a software costing 1.9L should i capitalize it and amoortize in 10 yrs. as life of the software cannot be determined.With reference to AS-26.Plz reply am i right in doing so?

I m having 'individual' status. while preparing my income tax return I have disclosed my assets after deducting depreciation (on the basis of useful life)

My question is that can I create 'Depreciation reserve fund' in my balance sheet even if I m an individual.

Hi,
I need to ask regarding to an accounting treatment to be made in the books. We purchased a new machine which was received in Jan 2013, and the original cost was take in the books as the advance payments were paid and recorded in Y2012. Since the machine cost was Rs. 52.92 lacs (added in FA-machines) we made application to govt. based organization to support us and finally, we got the subsidy from them of Rs. 29.40 lacs . So, what will be the accounting treatment. Do let me know at the earliest.

Sir,
Suppose on May' 2013 I receive a bill from the party dated: 05.03.2013 for an expense related to accomodation & fooding incurred on April'2012 whether I need to make a provision for the same in my Accounts on 31st march'13 or just treat it as a normal expenditure in F.Y: 2013-14. Also guide me about provisioning of expenses.

Please tell me where in revised schedule VI to show following items. Kindly locate the same specifically.

1. Bank overdrawn.
2. Advance received from Debtors.
3. Advance paid to Creditors.

suppose a company get bill from a shipping company as on 15.03.2013 (when shipment move ) and he raised the bill to his customer as on 10.4.2013 (when shipment reached )

1)so where to book expense and income in f.y 2012-13 or in 2013-14

2)so now here if he record that expense as on 10.04.2013 against it's income ( as per matching concept )

3)it is right way to book the expense and income or it is prior period item

4)is here matching concept and accrual concept are conflicting

because as per accrual concept when expenses accrued we have to book but as per matching concept income and expense should be record in the same financial year

thanks