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What is the accounting treatment of Fixed deposit & interest received therefrom????

As per Revised Sch VI, any item of expenditure, which is higher than Rs. 1 Lakh or 1% of Operating Revenue, whichever is higher, should be separately disclosed.
My querry is whether Company can show such expenses under the headings not covered by format of Statement of Profit & Loss? For example, where the Travelling Expenses are higher than 1% of Operating Revenue (or Rs. 100000/- as case may be), whether Company can show such expenses directly as Travelling Expenses in Statement of Profit & Loss itself or it should be shown under Other Expenses?

Similarly, Company has incured say, Manufacturing Expenses under different heads like Labour Charges Paid, Design & Drawing Charges etc. which cumulatively go beyond 1% of Operating Revenue. Whether they can be shown separately as Manufacturing Expenses in Statement of Profit & Loss and a Note can be prepared for that or should they be shown as Other Expenses?

latest rate of provision for standard assets for banking business

Hello ,

Is any software available for the purpose of salary , calculation of ESI , P.F. and other complete data record of employee .

I will be great full for that , because it is very essential for me.

Thanks in anticipation ,
Subhash Jain .

Pls anybody tell me,will revised schedule VI is applicable for nov2012 ipce exam. or there are any more amendments apart from it..?

XYZ co refine certain goods on hire basis from B ltd. B ltd pay hire charges to XYZ. During refining a byproduct emerges Called NY. B ltd has no concern about the NY, hence XYZ sells the same. The closing stock of NY on 31st march is 5000kg. Net realisable value of NY on that date is 200 per kg. How to value closing stock ?

As there is no cost to XYZ, whether the practice of valuing the stock @ zero as per AS 2 result an unfair financial position of XYZ ?

Hi,

can any one, plz. tell about the Rate of Interest for a Partnership firm, consist of 2 partner one of 60% of Shares & other is 40% of Shares,


plz. provide your value able advise...


Thanks

Taher R.K.

Can any one tell me about the latest news of applicability of IAS and IFRS in INDIA?

what is the relationship between IAS and IFRS?

Applicable IAS on banking industry?

Dear Sir

at 31.03.2012 I have due Professional Fee and maid an entry Professional Fee to Party Name and make such payment in April month and made entry Party Name to bank a/c .My Trial Balance show at 31.03.2012 Credit side an amount to party does it is right in Trial Balance.