We authorized dealer of car. We purchase a demo car and treated as a purchase and also show in VAT return as a purchase in Jun-2010. Now we want to capitalize this car to Fixed Asset but now confusion is that which account should be credited to transfer to FA. should i credit ledger of purchase to decrease the purchase.
What is the affect in Vat return by doing this. Please give the proper guidance.

difference b/w cost center and profit center ? plz explain with example

I am a Practising Chartered Accountant.

Which is the Best Book to Study IFRS / IND AS and what would be its approximate cost.

Thanks in Advance.

Dear sir/madam,

I want to know that if a person gets a salary of RS.6500.00 per month and he gets weekly off of 4/5 days according to month in a month.How the wages per day calculated ?
Is the gross salary (Basic + D.A.)is divided by 30 or 31 days ? Or is it divided by the days after lessing the weekly off days ?

Kindly suggest and oblige.

Sir,

We have incurred number of expenses(building materials and labour) for the purpose of temporary site office for housing development project going on.

We have transfered all such expenses to one account named Site office expenses.

What is the right procedure to claim the expenses of depreciation on such building.

whether each such expenditure is to be depreciated seprately or a cut off date be taken on which building is ready for the date from which depreciation is required to be calculated??

Sir,

We are a builder developing a group housing project.

Plz tell us the accounting of expenses for example advertising expenses etc incurred for the purpose of developing of flats for subsequent sale.

Can we transfer such expenses to WIP account (Project Cost account) and what shall be the head of such account?

Hi Experts,
Can we recognize Deferred Tax Liability/Asset in case if we have Loss as per Books of Account.

For Eg: In my case Loss as per Books is Rs.4450/- which includes Dep as per Co.Act Rs. 1374/-.
Where as Dep as per IT Act is Rs.6600/-.
Now there arises DTL.Can I recognize it.
Also can I Recognize DTA arising out of Unabsorbed Dep and Losses Under IT Act (loss under IT Act was Rs.9676).
If Yes how should I Treat them in the Books of Account.

Sir,
I have yo ask
1)Whether we can modify Revised Schedule VI as per the our requirements
2)Whether we can give additional disclosures by way of Notes to Accounts.
3)Some items which are not applicable, whether those should be ignored or we should write nil at that place.
4)Can you please provide Financial Statments Of any enterprise as per
Revised Schedule VI.

I have made sales and material is returned....In this case i have to issue Credit note or party can issue Debit Note to me.....i just want to ask whose responsibility is to issue note?

What is salary due entry in tally with PF, EPS, etc... When is salary due and when should the entry passed in tally.
Pls solve my query friends thanks in advance.