Dear sir,

We had a car valued Rs.3,10,000/-(After depreciation) and it was sold in loss @ Rs.90,000/- in last month.What will be the journal entry on above transaction.Can it be adjusted with another fixed asset hailing in same schedule of fixed asset.

Regards
Shyamlal.K

i am currently doing audit in biscuit manufacturing industries . Management want to take report on their wastage of Raw material during production.they want to compare report with their actual standrad set for wastage.

So i want to know the points that i consider in my audit program & if possible please provide the formet of report in excel

Does Petty cash expenditure exceeding 20,000 by cash in a single day acceptable or not?

please provide me a link to the circular on LBT means Notification or circular as such.
i want to know the rate plus penalty for non payment and other like wise detail

What is the current cost audit turnover limit?

if there is violation of accounting standards that need to b followed den whether auditor needs to issue qualified report or adverse report?

Dear experts,
One of my auditee company had entered into a leasing agreement for using building with outside party for a term up to 2 years. monthly payment is Rs.2,00,000. the company is paying rent monthly on due date basis without obtaining rental bill and receipt. While doing internal audit we found it. Should we accept or not?
Client is saying that it's my practice and Rental agreement is enough , no need of further documents. tell me is it correct practice or not?

A company has purchased furniture from a dealer and the same person has done paint and electricity job of the office and submitted a single bill the company has capitalised the whole amount along with the paint & electric job as furniture and fixture. I also want to know whether TDS has to be deducted from the amount while making payment

if pvt company who is subsidiary of a public company ,caro is applicable?

Hello every one,
I have a query on Impairment loss.
Q1) Whether you will write off of the full value of asset (Building) when you have impairment(i.e, Building has been demolished in my case) ?
Q2) What kind of supporting document you can find while doing audit and IT scrutiny ?

Please take it as urgent.

Thanks in Advance.