Hello Friendz
Plz tell me the valuation method of closing stock to be followed in case of hotels
and what to include in closing stock means they will have raw material for preparation of food etc, liquor and many other things
Is there need to use different method of valuing different items??
Plz guide me in this respect
thx

which book should i use for financial reporting.. m having paduka it has good sums but no concept clarity....m looking for m p vijay kumar ....i have to complete FR by self study in 50 days....

please advise mpvijay kumar+ practise manual + dsrawat(as) enough to get 70+ in financial reporting....

When cash recovery is made in any NPA account what is the next step in regard to its overdue interest whether it should be debited in the account

The company i am auditing is engaging contractor for labourers and paying the contractor.The contractor is not paying ESI charges to the labourere and so the company is paying ESI on behalf of the contract labourers in addition to the payment being made to the Contractor.

Will the ESI payments be a aprt of my "Contribution to PF & Other funds "in P& L or it will be clubbed with the professional charges expense.The contractor laboueres are not appearing on the payroll of the company.

Pls send me which auditing standards applicable for ipcc nov 2011 exam. Tanx in advance

what is tax audit & normal audit

IF ADVANCE MONEY RECD FOR SALE OF PLOT THEN 269SS WILL BE ATTRACTED OR NOT .........ANY CASE LAW.

B/C IN ICAI GUIDANCE NOTE IT IS GIVEN TO EXCLUDE ADVANCE AGAINST SALE OF GOODS.....

URGENTLY REPLY

AS PER CIT V/S SANTOSH JAIN CASH PURCHASES [WHETHER BEFORE OR AFTER DELIVERY] ----ABOVE SEC VIOLATED



BT IN CASE OF CREDIT PURCHASES & THEN MAKING PYMT TO CRS IN EXCESS OF 20000/- SEC SHOULD NOT BE ATTRACTED B/C IT'S NOT A P& L ITEM

I want to know how to calculate adjusted numbers of shares for EPS calculation.

Rs. 12.90 Lac Share Capital as on 1st April 2010

Rs. 50.00 Lac added effective from 31st August 2010

So, total Share Capital as on 31st March 2011 would be Rs. 62.90 Lac.

What would be the average numbers of shares to be considered for EPS calculation? Please share formula too.

Thanks & regards

Is there any specific format in which Statutory Audit Report needs to be issued.