previously we were debiting or crediting the profit and loss account for expenses and revenues. Now we have statement of profit and loss; does it mean that we shall have to debit or credit the statement of profit and loss instead of profit and loss account; or profit and loss appropriation account.

actually my new firm was started i want to know how to file sales tax online i know the site name www.mahavat.gov.in and i have login details also bt how to filed don't know and also i am cutting the tds amt to my client bt how to pay that amt to gov. and how to get tds certificate don't know please help mi and give me right information

Person issued a cheque to us and we gave him the receipt for that. The cheque bounced and then he gave us cash of same amount as that of cheque. Should i issue him a new receipt for that and cancel the old one or just keep the cash.Please tell me how to do this as per the accounting rules.


Thanks in advance.

Dear sir,
what are the rules & procedure in invoice. And answer it be must invoice date and material inward date are want to be same.

As per AS 2 "Valuation of inventories" ,in Annual Report the company had to mention the cost accounting formulas, treatment of Raw Materials , WIP and Finished goods , there treatment in the books, valuation of inventories and other necessary details.If company fails in showing these details in annual report what are its consequences? How it will impact the Audit report and Directors Responsibility Statement as given by directors.

hello friends,
i ve a prob in as 13 so pls suggest me. the prob is-

suppose there is an investment by a company in a sceame framed by a portfolio co. in which the co has to invest 10 lac annualy for 4 yrs and the portfolio co will invest the received money in various equity shares and mutual fund of real estate project/company. the portfolio co send half yrly and yrly statement regarding the investment to the investor co.
now the prob is that the investment is long term or current investment in the hands of investor co. i also want to know the reason.
pls reply soon

Overall Painting of college was made for which amount of Rs. 700000 was expended. whether such amount should get capitalised or treated as revenue exp.

When should we recognize purchase of Land? Suppose we made payments to seller of Rs 1500000/- for purchase of land as on 31st march 2012, and balance balance is yet to be paid. How to show Land in books of accounts as on 31st march, 2012?

how treat performance incentive of sales relating to FY2011-12 which is identified in the year 2012-13,either as prior period item or current period item?

Hi All!

We have purchased some paintings. Just wanted to confirm whether it should be capitalised as Furniture&Fixtures

Rgds,
Ramesh