What should be the treatment of forex loss/gain arising due to restatement of Creditors for Raw Materials.

Dear Experts,

We have taken a vehicle Insurance for a period starting from 20/11/2012 to 19/11/2013 by paying a premium of Rs. 4060. But on 28/01/2013, we have sold the vehicle. Now we have to do the accounting for the same. How the Premium amount will be recorded in the books of Accounts. Whether we need to account for prepaid for the period from 01/04/2013 to 19/11/2013? What if we should not do prepaid as the vehicle is not with us. Shall we expense the complete amount in the year 2012-13 as Insurance Expenses?

Please Guide me on the same.

Waiting to the response of experts.

Dear Frnds,

Our Company Providing Real Estate Services, we Facilitates our customer to pay online installment, that requires payment gateway software, we have purchased the license from software company for 10 months (Payment Gateway Software) and pay RS. 10 Lac to software Company , please advice whether it is maintenance or intangible Asset or any other treatment

Thanks in Advance

we have two offices with gujrat & maharashatra. we have also vat registration with gujrat & maharashatra. how we should make accounting of sales & purchase in gujrat & maharashatra.

under garner vs murray rule,even if the partner has debit balance bt solvent,can he be asked to bring the loss of insolvency of an insolvent partner?

Dear Experts,

I would like to know if there are any amendments in Financial reporting paper for CA-Final when compared to 2011.??

Kindly help

Dear Sir,

this salary total CTC salary for one month is 12000.00

Basic 40% of total = 4800
HRA 50% on Basic = 2400
Conveyance = 800
Special Allowance = 2068

Total Gross =10068

PF Deduction 24% on basic = 1152
ESIC dedution on Total Salary (12000)6.5% on = 780

Total Salary (10068+1152+780) = 12000.00

Please tell me i am right or any amendment required

please reply soonnnnnnnnn

I have a confusion regarding the entry to be passed for interest receivable on fixed deposit as on the year end date ( say 31/3/13)
Please help me for the same

Sir I hav a doubt regerding insolvency of partner.
Defficiency of insolvent partner should bear by solvent partners who have a cr balance in adjusted capital ratio.but in my practice manual ipcc group 2 it takes sometimes capital ratio,some times adjusted cap ratio when why? Please resolve my qstn plz

Hi All Experts,

Can you please tell me 1st April 2013 to 31st March 2014 is termed as Fiscal Year 2013 or Fiscal year 2014 ?

I am bit confused in terminology of fiscal year.

Kindly explain the query.


Regards,

Pankaj Bhalerao.