Greetings of the day to all Experts!!
Can anyone tell me whether Share application money pending towards allotment included in the net worth of the company? IF yes/no then Why...

Dear Sir

Under which head Misc.Expenses is to be treated as per revised schedule VI, Is it under Non current assets as Misc.Expenses not yet Written Off?


Thanking You
Nagaraju G

If a company constructs buildings and then sells them, should one treat finished buildings as finished goods and categorize them as inventory? what if a company constructs buildings on contract as well as for selling (both activities)?

what are the journal entries for interest rate swap under AS 30

what is the Cash Sale limit in a singal day to signal party ?????????

if stock is maintain as per weighted method and op. Qty. of stock is 1500kgs & value is Rs.15,000/- (i.e. rs. 10 per kg)

and we sold 500kgs stock @ Rs. 12/kg then now we have 1000kgs.

i want to know what is the value of closing stock

i am a student of ipcc....

in coachings i studied that losses prior to incorporation are capital losses and shown under the head miscallenous exp in BS
but as per rev schedule vi we have to debit the expense in p and l itself


so in case we find loss prior to incorporation should it be written off in the current year and reduce the profit of current year???

Please clarify this..

If There is loss as per Accounting Rs.(20,000) and loss as per Income Tax Rs.(30,000), then

What should be created?

Deferred Tax Asset on timing difference:-
(30)-(20)=+10
OR
Deferred Tax Liability on timing difference:-
(20)-(30)=-10

NOTE:- It is on account of temporary timing difference

Net Realisable Value - It means the estimated selling price in ordinary course
of business, less estimated cost of completion & estimated cost necessary
to make the sale.

Kindly let me know some examples of Estimated Cost of Completion in NRV??

what i understood with estimated cost necessary to make the sale is selling cost incurred to make the product saleable.

Best Regards,
Piyush Goel

Schedule 6 is applicable for Nov-2010 or not please help me...

& it is applicable in which chapter ???