I am an Indian Company is receivable of foreign currency for sale of services. My sister concern received the money on behalf of me. While making journal as giving effect to debtors and sister concern should I account exchange loss (as invoice ate and today's rate are different)

some export sales were made to a prticular buyer and that buyer refuses to accept the delivery and becomes insolvant. The same goods are sold to another buyer but at 50% discount. What should be the accounting treatment? whether the original sales entry be reversed and the original buyer be credited with full amount of invoice or be credited with 50% of invoice value and 50% be claimed as bad dedts.

Dear All Expert,

Pl address the following issue.

One Indian Pvt ltd company has acquired substantial shares in one foreign company, which is listed outside India. Company has also enter into agreement with this foreign co. to supply of technical know how to the investor co. Investment by Indian co in to foreign co is also covered in the agreement of Supply of Know how.

Further, Indian company has appointed its nominee on the BOD of foreign co. for this purpose Indian co has paid Rs. 10 lacs to the stock exchange on which foreign co is listed as a Verification fess as per norms of foreign stock exchange.


Now,
Whether AS per AS-13, Rs. 10 lacs can be a cost of Investment of the Shares acquired in the foreign co. ??



Thanks & Regards,

Vikas

what is the treatment of foreign exchange transaction? i face the following problem in my audit work please solve the problem...problem is "Company doing software work to foreign companies having only foreign receipts no other income,company raise invoice for one month (ex for the month of apr11 raised in may11) at exchange rate on the date of invoice raised.Foreign company directly deposited to our bank account(no detailes about amount relating to current bill or previous bill,at sme time no details about what exchange rates taken)(opening balance pending)"what is the exchange rate for determine exchange loss.
thanks & regards,

Dear Sir,

I have Pvt Ltd Company & in company two director & both have company share now company required more fund than company take fund form director huf as loan or issued share to huf

Should I declare non-depreciating assets - which are not related to my profession (washing machine, refrigerator etc) in my balance sheet?

Sir,
In an audit i came across the situation wherein a pvt. co. has incurred expenses after incorporation but before the commencement of production that embrace salary to staff,bank interest,rent and other expenses Rs.25,00,000.Accountant after the start of production has transferred the same to plant & machinery account.I've objected but i am confused as to under which head this should be capitalized.Given that the asset is not the qualifying asset & concern is a manufacturing entity.Please guide
In the given case there is neither any construction of asset nor the asset qualify for the borrowing cost purposes.The concern is cardinally engaged in the business of making mould of printing on iron shell.

PLEASE EXPLAIN DIFFERENT FORMULA TO CALCULATE CLOSING STOCK FOR BUINESS EG-OP STOCK 512703 SALE 8889273 PURCHASE 8228149 WHAT WILL BE CLOSING STOCK

Dear sir,

please provide me the depreciation rates of following assets.

Air Conditioner (Voltas)
Attendance Punch Machine
Computer
Data Processing Equipment
Epabx
Epabx(Md)
Eversoft Soft.(Thermax)
Fax Machine
Furniture & Fixtures
Hp Laserjet M1213Nf Printer
Hp Scanjet 8270
I10 - Magna (Gj6 Dg 1841)
Lcd Monitor (Viewsonic)
Office Equipments
Quick Heal (Software)
Refrigerator
Revolving Chair
Shredder
Software License Fees
Tally 9 (Lan Software)
Testing & Laboratory Equipments
Voltas Elite 1.5 Ton Ac
Water Purifier
Xerox Machine-Ricoh Mp2000L2
Zerox Machine - Digital Multi Function
Chair - Nilkamal
Fingerprint Time Attendence Machine
Sofa Set

sir, i want to know the depreciation calculation as per W.D.V. & S.L.M Methods for 2 years because of my doubt is which amount will taken as a opening balance& Closing Balance. kindly solve my doubt with example for 2 financial years

Thanking you sir,
yours faithfully