Out of the total salary, conveyance is exempted under section 10. can you please let me know the limit

May anyone pls tell me the total holidays allowable in pvt companies with its different heads.
Thanxs.
Tajinder Singh

Hi friends

I want to discuss upon the concept of accounting entries and presentation aspect in case of foreign currency revaluation and translation.
Can you confirm or object (with Detailed explanation) if my below statements are correct.
* FC Revaluation is done always prior to FC translation.
* In case of FC Revaluation, one side of entry goes to Revaluation asset/liability account while the other one goes to FC Revaluation gain/loss account I.e. P/L account.
* In case of FC translation, both side of entry goes to Translation asset/liability/equity accounts of Consolidated B/S. This is the main part of my query on which I want views.

Please share your knowledge and experience keeping not only Indian but IFRS and US accounting in consideration.

Kind regards
Arjun

sir,my result shows no record found for revaluation process and inspection process which i had applied for nov 2012 final examination putting me in dilemma indeed.please tell me are results of revaluation announced and if yes why is my result shows no record found

Hi ,

If we have inventory of Rs.100 & its market value is Rs.80 thn what would be the entry at which cost .

& what should we do with the difference of both amount (Rs. 20).

Please help,

Thanks & regards
Priyanka

Dear Sir,

Which account head medicine exp will debit?

Sir,
Kindly tell me the accounting of Furnitures & Fixtures to be used in Employees' Quarters & Company Guest Houses. Should they be capitalized or immediately written off?

Wen ever in d qts it is said dat partner A is entitled to a salary of rs. 500 pm we pass d following entry :

P/l A/c dr
To A's capital A/c

but y not this :

A's A/c dr
To Salary A/c

What is the difference between Builder and contractor as per AS7? and to whom AS 7 is applicable?

Treatment of minority interest loss in balance sheet while preparing consolidation of accounts.