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....

Do we have to make any disclosure in the Notes to Accounts of a company that has no activities & is hence dormant [Co Law filing of Annual Returns, Balance Sheet, etc are done regularly].
This also does not fall within the scope of 'Discontinuing Operations' as no activity has been formally discontinued.

One of our client in real estate business developing various types of flats, commercial plots and later on selling the same. For the viriuos reasons they have to give variuos types of bank guarantees to variuos authorities.For issuing the bank guarantees,bank is keeping margin money. On this margin money bank give interest on a regular basis.
Whether this interest income need to be deducted from the project cost or should we credit this to the Profit & Loss Accoubt as income?

What is the treatment/disclosure of exp. incureed by a Pvt. Ltd. Company on Incorporation . and now where Pre operative expenses to be shown as per new schedule VI of companies act. please suggest me accoding to AS 26 and as IT Act.

As per Companies Act and CA Act, statutory auditor cannot purchase shares of auditee company.
My query is that whether this provision also apllies to internal auditor or not?

Please reply.

Whether interest paid on late payment of Income Tax, VAT, Service tax etc amounts to fine/penalty. Whether it has to be reported in Tax audit report and if yes under which point.

Whether the above interest is allowable as business expenditure.

What is SQC in audit?

Respecetd Sir,

I am working in a PVT LTD Company As a Accountant.Please Say what should i take care of Papers and condition while accounting.

Please say the important and major points to be followed.

Thanks & Regards

if an assessee has following details..

turnover during the year 75 lakhs(proprietorsip firm)

income from of house property 240000p.a

i know that the assessee is liable to get his accounts audited but pls let me know that his audit will also include income from house property or only income from business???

If a Statutory Auditor is disqualified under the Companies Act and he is also the tax auditor of the same company under a single agreement will the disqualification apply to tax audit also ?

Also what will be the situation if this dual capacity of the auditor happens to be under different agreements