A company was ordered a machine with some specifications to foreign supplier. An employee goes to the place of supplier for trial of the machine ordered. The query is that the travelling expenses related to above visit either capitalized or transferred to P&l A/c. Please give a reference of Accounting Standard also, if possible.

Hello Everyone,

How the Deferred Rent(Computation has been done)accounted in the Books of accounts ?

i want know that how to close the old/past creditors dummy accounts.

While accounting for school student should be taken under which head either Sundry Debotors or someother head.

Reply as early as possible.

1)What is the difference between operating lease and finance lease ?
2)How the accounting is done in the books of lessor and lessee in case of finance lease and operating lease ?
3)Thanks in advance .

Hello Friends,
I wanted to know the accounting treatment in case of a Raid / search seizure. For eg. a person discloses an income of 1 crore for previous years (say 2007-08, 08-09, 09-10) after raid and accordingly has to pay 40 lakhs as tax, interest and penalty. How should this be treated in the books of account for Current year.

i want to calculate BEP in case of new transport business for the purpose of commercial loan from bank but i can't understand how to calculate.I have 600000/-p.a. expenses,truck cost 665000,loan amt is 200000@ 12%.plz help me

Is there any shortcut methods in checking the opening balances in tally . . . . ?

receive subsidy form gov. for overseas exhibition kindly advise me account head and under also suitable ledger name it is direct income or in direct income ?

who can claim depreciation on assest purchased on hire purchase ??..with explanation plz..