hello!!! i have got a query regarding discount on debtors and creditors as to why are they recorded in P&L A/C,aren't they concerned with trading,what I mean to say is why aren't they recorded in TRADING A/C BY DEDUCTING FROM PURCHASES AND SALES RESPECTIVELY???
PLEASE EXPLAIN THIS TO ME IN DETAIL....PLS

-THANKING YOU IN ADVANCE!!!

hello!!! i have got a query regarding discount on debtors and creditors as to why are they recorded in P&L A/C,aren't they concerned with trading,what I mean to say is why aren't they recorded in TRADING A/C???
PLEASE EXPLAIN THIS TO ME IN DETAIL....PLS

-THANKING YOU IN ADVANCE!!!

Can anybody tel me which book to refer for IPCC accounts group 1 & 2 and for FM also??

Bill of entry Rate R50/$ Stock valuation at Rs-50
On date of Payment Rate Rs55/$

Whether difference of Rs-5/(55-50) consider for stock valuation? (company not enter any hedging contract)

Sir,
If I receive a amount of Rs.50,000/- the party deducted TDS of Rs.5,000/-, in my account which ledger acount in under what group is to be created?

Thanks

sir,

i am working as a Accountant in manufacturing company. i want to know the Meaning of Share Capital& Share Application money and also difference between Share Capital & Share Application Money with examples kindly solve my problem.

Thanking you sir,
yours faithfully
v.nagaraju

Respected Sir/Madam,

In LLP partners contributes money & run business & want his money back on there will.

but i want to know the process obtained by the LLP for distributing the profit & what is the share of short term partner who invest his money not more than 1 month.

CAN ANYBODY MAIL ME MIS FINANCE REPORT FORMAT. I NEED IT.

Whether Debit & Credit Note are for sale & purchase transaction or it can be used for the purpose of other transaction?

Like our co. has to repay an amount to one of its sister concern as sister concern has made payment on behalf of our co.for the purchase of fixed assets. so in this case our co.is issuing Credit Note to its sister concern. Is it right to do so?In my opinion it is not correct as this transaction does not related to sale or purchase.

Water tank..under wchich of head it should be shown in Fixed asstes??