Sumit
This Query has 1 replies

This Query has 1 replies

15 May 2013 at 13:58

Depreciation accounting

I am working in IT sector company having Tangible and Intangible assets, I am little confused regarding depreciation for the same.
Do I consider the useful life of the asset or the rules of taxation?
On other hand, Intangible assets are permanent in nature what thing should be taken into consideration while depreciating this sort of assets??
Please revert me..!


Mohammed Yaseen
This Query has 6 replies

This Query has 6 replies

15 May 2013 at 12:35

Adjustments

Hi,

I have a client who pays in USD and also currency set in accounting software in USD with conversion rate in local currency. Client has made all the payment until date (No O/S balance), however, in local currency (conversion rate) there is still a difference showing as payable. What could be the cause. Please help me come out of this situation.



Anonymous
This Query has 3 replies

This Query has 3 replies

14 May 2013 at 22:49

Ind as

from when Ind As is applicable on companies?


Rakesh KUmar
This Query has 4 replies

This Query has 4 replies

14 May 2013 at 20:06

Payment through cheque

i make a payment to a party on date 10th may 2013 but cheque was presented before the bank for payment on 14th may 2013 and also it was cleared on the 14th may 2013. on which date should i record the same in my books? please give ref of your answer i.e. according which acts of income tax


ajay
This Query has 2 replies

This Query has 2 replies

14 May 2013 at 18:16

Provisional balance sheet

respeted sir/madam,

can a provisonal balance sheet drafted for bank loan purpose be diffrent from the actual one drafted for the same year.


suman kumar jha
This Query has 2 replies

This Query has 2 replies

14 May 2013 at 13:36

Journal entry

owner purchase furniture 5000 for company by
personal credit card .

what are journal entry?


Mohammed Yaseen
This Query has 2 replies

This Query has 2 replies

13 May 2013 at 16:49

Bank charges

How do I charge Bank charges on payments to clients. Meaning, If I receive money from my clients from other country, Bank charges my company as transaction charges. I want to charge the same to our clients. Please advice the correct procedures.


Hussain Manasawala
This Query has 1 replies

This Query has 1 replies

Sir please elaborate n explain me what does it mean "Change in inventories in FG,WIP and Stock in trade" shown in P&L A/c and what is efeect of this entry.
I also want to ask that sir if suppose i buyed a goods at Rs 80 and selling it in market at Rs 60 i.e Rs 20 Loss but suddenly after few day we bring the cost of Rs 80 to Rs 65 in Tally (Not change in the incoice,Invoice is same only chage in Stock item price)so that Loss of only Rs 5 is seen.
So after dng cost change to Rs 65 do i need any jounal entry to pass in P&L A/c.Does this Chamge in inventories in FG,WIP and Stock in trade applies me or after dng that change Profit & Loss is automatically will refelect in P&L A/c


NITHIN KUMAR
This Query has 2 replies

This Query has 2 replies

13 May 2013 at 01:40

As 11

treatment of bills recivables /payables of a foreign branch on closing date.
which rate of translation to apply?


abhinav
This Query has 1 replies

This Query has 1 replies

11 May 2013 at 15:19

Dividend distribution tax

Dear Sir,

According to section 115-O, if a holding company receives the dividend from its subsidiary, & the holding company distributes that dividend to its shareholders,then the amount of DDT payable by the holding is reduced by the amount of DDT paid by its subsidiary.

So, how to present this setoff of DDT in revised schedule VI.






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