What are the different rules of Revenue Recognition in case of Export Sale especially where sale is done on different terms every-time say CIF , FOB etc.

Akhil Ltd. imported a machinery on 01.07.2002 for Rs 1,28,000. paid customs duty and fright Rs. 64,000 and incurred erection charges Rs.48,000. Another local machinery costing Rs.80,000 was purchased on 01.01.2003. On 01.07.2004, a portion of the imported machinery (Value one-third) got out of order and was sold for Rs. 27,840. Another machinery was purchased to replace the same for Rs.40,000. Depreciation is to be calculated at 20% p.a.
1- Profit or loss on sale = ?
2-Closing balance of Machinery = ?

Hi experts
iam new to Industry experience ..

what is the entry for salary paid
which inclde..professional tax,pf,esi,hra

thanks
sada

Dear Sir,

I want to know that what are the procedure for writting of preliminery expenses which is showing in our balance sheet.

Thanks

How do we recognise bank guarantee in books and proper accounting treatment about this ,when bank guarantee issue to bank guarantee settelment.

dear members,

plz let me know how to account the expenses which are incurred by a director of private company through his debit card or personal bank a/c as companies bank a/c is not opened and there were some expenses which are required to be made online only.

thanks and regards

Dear sir,
Suppose company take loan & they paying interest on them,
If company not paid that much interest so interest payable should add back to principal or we have to show this amount as interest payable separately because next time interest calculation should be on principal or principal + interest?

In second condition vice versa

2) if loan given by company / or financial institution etc, to any other company or firm so in this case interest receivable also add to principal or it would be shown interest receivable separately

Because one of my professor said that interest payable should add to principal but interest receivable should not add back to principal is this true if true, which accounting standard or policies said that
Expert pls reply

How I Will make TDS entry All types ?

Ours company reached nearest to 20 crores (19.50 Cores). for the year 2011-2012.

Ours is a manufacturing of machinery (Animal/Poultry Feed Milling plants).

Ours is a Pvt.Ltd., company.

Not listed in any stock exchange.

please clarify any body is it require cost audit or not.

When the cost audit will apply.
Are there any exemptions.

Anil of Delhi sold goods to Bensi of Chennai,The goods are to be sold at 125%of cost which is invoice price. Commission 10% on sales at IP and 25% of any surplus realized above IP. 10% of the goods sent out on consignment, Invoice value of which is Rs.12,500 were destroyed. 75% of the total consignment is sold by Bensi at Rs. 1,00,000. What will be the amount of commission payable to Bensi? Please solve hint....