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.

from when Ind As is applicable on companies?

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

respeted sir/madam,

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

owner purchase furniture 5000 for company by
personal credit card .

what are journal entry?

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.

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

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

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.

Dear All,

Suppose a X Company has lien marked its FD,s for loan facility to be availed by its sister concern Y Company, then in such case will such whether the amount of FD's marked will be shown as Contingent Liability in the X Company's Annual Accounts ?