Hi,

Can anyone suggest the accounting entries for Finished Goods Destroyed by Fire during the year in the following example

- Value of FG Destroyed: 16 Lacs;
- Salvage Value : 2 Lacs;
- Insurance Claim Accepted & Receivable - 8 Lacs

Dear All,

I am working manufacturing unit, have Last years Balance sheet and half years result in hand.
I want to prepare projected financial statements for next six months.

Please guide me, how to prepare and how to use ratios for the same?

Dear sir,Iam a CA FINAL STUDENDT.I prepared balance sheet format for sec 25 co, and Educational Institute(Society) in Revised sch VI format. Is it correct or not? is any special format is there?In which format Educational Institute(Non company)should present its financial statements?

Dear Sir,
We have renewed Tally software Licence. Amt is Rs 7200/- Pls suggest where to book this exp.

Regards
Manish Kumar

Sir, I am an Ipcc student. I would like to know whether the revised schedule VI which is applicable for nov 2012 is applicable for finaancial statements in COST ACCOUNTS AND FM too..

please guide,
Thanks.

Hello Sir,
My client has a business of turn key project for which it is recognising the revenue as per the payment term in the contract. i.e if in the contract there is a term of Advance payment then it is reconising such advance receipt as a income. is it feasible??? how to recognise revenue at the end of the year if project is not completed?
I request you to give answer on the basis of IFRS.

Thanking You,
CA Hardik Thakkar

Hi All,

please suggest the Process which i need to follow process costing or Job costing.

we are manufacturers of Tipper and Mixer bodies. we have five process
1. Metal forming
2. Body fabrication
3. painting
5. Assembly
4. Quality & inspection
we prepare all parts individual and do assembly the parts final.

Hi

Our Company has Rented a Factory Building, and it has been modified and renovated to suit our production activity. Company has debited the expense to repairs and Maintanance saying building being the asset is not owned by the company. thus expenses are revenue in nature

I am of opinion that the expense should be capitalised as benefit from same is not derived just for one year but till the day we use the building thus account as fixed asset and depreciation should be claimed under rate prescribed for building.

Please confirm if the expense is a Revenue or Capital

and method of accounting recommended

What is meant by concept deferred entries? Please explain with an example

Dear members,
I want to increase my cash credit facility from 2.5 lakh to 5 lakh in to sbbj bank ,, so any one can suggest me what is ratio's of CMA report or projected Balance sheet...