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..

Gross Salary 53500

Net Salary 46144

Employee Contribution for PF 6420

Employee Contribution for ESI 936

Employer Contribution for PF 6420

Employer Contribution for ESI 2541

PF Admin chrgs 1250

EDLI Fund 250

EDLI admin chrgs 20


Pass Necessery Jounal Entries :

a) When pay the salary.

b) When pay the pf & esi

c) When put the provision for march

Sir, I am doing the Stock Audit of one company (Manufacturing Concern) on behalf of the bank. Can anyone please clarify me whether Depreciation is considered in Cost while calculating Drawing Power (DP) of the company. As per my point of view it should not be considered because first it is unavoidable cost and second only considered when plant is running at 100% capacity, but i am not sure about it. Please help me out and please provide the reasoning for your answer also and any reference from where i can also check this out.
Thanks in Advance
Waiting for response.

Whats the Difference between IND AS and IFRS/IAS?

Dear Experts,

We are contracting with one courier agency, they losses our goods in transit that would be amount of Rs.10000/-.now we deducting the amount from his bill. so how would be charge a tds on courier bill.Bill Amount is Rs.34500/- shell we deduct on Rs.34500/- ???????