Sir,
kindly tell me than when an asset must be capitalized, its date of capitalization & Threshhold limit?
also if any major repair is undertaken what would be the criteria?

Hello sir, please explain:- " the inventory a/c might be changed to bring them in line with the actual number counted during a stock take, at the same time, the expense a/c associated with the usage of inventory be adjusted by an equal and opposite amount." Q) what do the mean about an exp a/c associated with inventory here ? Q) how can inventory be adjusted with the expense account ?
Pls explain in detail.
Thank you.

Hello sir, please explain:- what are transactions and events ? What is the difference between them ? depreciation and last year's brought forward balances are transactions or events ?
Thank you.

What is a sales ledger ?

What are daybooks ? Pls explain in detail.. And is sales daybook similar to a normal sales book in which credit sale of goods is recorded ?

Hi,,,

Anyone can tell me
company bought a Sonic firewall (software) costing Rs. 70,000 with economic life of 3 years which is mentioned by vendor in their invoice and company has booked all 70000 in the year of purchase in profit & loss account instead to defer or other

now i want to know what should be the accounting treatment
whether it should have been comes under As 26 Intangible assets and amortised over three years of life or any other accounting treatment will be permissible

should i deduct tds on transportation charges if PAN is available?

One of my client company has purchased Dogs for security at plant. How will it be account for in books of accounts?

What will be the accounting entry if an asset is purchased from General Reserve?

How there can be any intangible assets arising in insurance enterprises from contracts with policyholders?
And what are the examples of the same.