a trust has excess of income over expenses. can it claim expenses on purchase of Fixed Asset in its statement?

what will be its position in the same situation in case of more of expenses over income?

or
the answer is to claim expense on FA in both the situation?

what is an assertion level of risk in risk of material misstatment ??? kindly explain with examples

In my company 2 entries are made for payment of interest in EPC A/c as follows,
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?

what is anamoly?

While reconciling it was observed that
In case of one party bills booked on time but not paid for two years. However party not asked for payment for that specific bill.Then can we put that bills in suspense. Other wise rest account is reconciled. if yes should we put in suspense in current year because balance sheet of previous yr is finalized. Let me know accounting treatment. Also let me know if there is any other alternative accounting treatment

hi Am running private limited company i.e painting contracting company. 1. we taking home painting work contract from the customers and give the sub contract to to paint worker by leasing our profit. is required to deduct TDS while giving sub contract to workers? if s how should I deduct? Pls help me to resolving this problem?

how do i get concurrent audit of banks..

Dear All,

Can any one tell me whether a partnership firm (not an LLP) who is engaged in manufacturing process is required to get its cost records audited or not.

If yes, then under what circumstances.

Please guide.

Hi, Can anyone help me out to share the step wise procedure for Full and Final Settlement and and time period, need to collect during the same.?

What is journal vouching n how to do vouching