Hi,

We are working as sub contractor for one IT infrastructure project at Mozambique country it was started in mid of 2009, we have contract with indian X company and X company have contract with Mozambique government,X company paid advance of $30,000 equilant of Rs.1.4crs ($30000*Rs.48/-) in initial stage and asked us to adjust against the invoices based on service, when we are raising invoice to customer considering service value of $10000@ present forex rate, my question is we need to apply for advance adjustment present forex rate or old forex rate.
Please clarify us its urgent because our customer is come back and saying that we have to apply old forex rate for advance and adjust accordingly.

Our company had received 'Registration fees' from users having their account in our website and subsequently on achievement of desired volume company refunded the registration to users.

This refund is not always given and not for all users...

While making refund which account should be debited???

Please reply

Hello,
I want to know that if a company purchases goods from the market to be distributed free with its own finished product then at what value should we show it in our inventory?
According to me the NRV is zero so we should value it as zero.
What is your view please suggest..

Sir i want to know whether IAS & IFRS are same & one only.

sir i also Required any study material on IAS/IFRS.

SIR PLEASE HELP ME FROM WHERE TO STUDY IAS

Dear Experts,

If I import goods from China with the help of one agent who is also in China and I am not making direct payment to the Exporter but the payment is made to Agent along with his Commission say 100+5=105.
Now is Form A2 is required for entire 105 or 5 and Is it legally allowed.

while solving sums of amalgamation, i don't understand which method should i use for calculation of purchase consideration in what kind of sum.
please help me.

dear sir, I want to know what are direct expenses occurred in a loom business. what is weaving charges & processing charges in loom business ?

we have a different division say for Eg A AND B, We have a different Profit and Loss account and we prepare Consolidated Financial Statement for A& B . Tax working is done by combining A &B as Single entity.

In this i have a doubt, A Entity planned to sell an asset to B at market value. Say for eg: WDV OF A : 10 Lakhs, Sold to B : 15 lAKHS.

wHAT IS THE ACCOUNTING TREATMENT?

How I WILL COMBINE THIS FOR TAXATION CALCULATIONS?

This is very urgent kindly help me out.

What is the appropriate head for expenses on return filing and quarterly statements submitted

one of the small garment factory business is running at remote area. Preparing a income and expenditure account what is the treatment of job work received materials.