one of client is exporting and whatever outstanding as on 31st march is required to be converted at the dollar rate as on 31st march.What AS says- pls clarify

Someone told me that now Miscellaneous expenditure cannot appear in Balance sheet due to inclusion of certain para in AS -26.

Do any one has idea regarding this para?
A humble request.

how will be i prepare a programe for physical stock verification. what should be paper will be collected before stock audit

how will be i prepare a programe for physical stock verification. what should be paper will be collected before stock audit

One Of My client is incurred loss in first year. That is private limited compnay without any income. So whole exp relating to first year is loss. If i show the same under reserve & surplus schedule as profit & loss account debit balance instead of showing profit and loss account debit balance separately on asset side, is it any breach of schedule VI or company act or income tax act or not ?

Please reply immediately.

Thanks,

An assessee has 2 propritory concern. Turnover of First concern is 3000000/- and from second is 1500000/-. Whether tax audit is applicable?

I need a detailed general checklist for conducting statutory as well as tax audit for the year ending march' 2008......

No specific industry, just need to know the basic requirements....

Will figure out the industry requirements as and when the need arises....

Plz help....

Thank You

In case Of Private Ltd Company, if there are 2 directors, then if one director signs only on notice of meeting, director's report, Balance sheet and profit and loss account and notes, then is it any breach of company act, income tax or as non compliance of statutory audit or any other law ?
If only one director signs the above documents, then is it proper or not ?

The company has no income.It is first year of the company.

Kindly reply immediately.

Thanks,

Snehal

can a person(CA) be appointed because of his name is written in Articles of Association?or is it necessary to pass a resolution.

In case of a firm which is not subject to audit whether amt recd as loan or paid as loan repayment in cash is wrong.

eg "A" is a propertership in which she has accepted some loan from her relatives in cash (but less than Rs. 20000/-) on 1/4/08 & then again on 19/5/08 (but less than Rs. 20000/-) then made repayment on 15/6/08 in cash amting to rs 15000/-.Is the party violating any provision of income tax act.thisloan is for the purpose of business.