While Conducting audit it was found that payment for Employees Provident Fund for the PY09-10 has been made in PY11-12 and no provision for the Employees Provident Fund was made in the PY09-10.Is it right? If not then what should be done?

If an employee of a company spends money in a restaurant for food then will it be debited to travelling Expenses. In my opinion it should be debited to staff welfare. Plz tell me whether I'm right or not. The Accountants at the Client Place are saying that it is rightly debited to travelling expenses

A company started construction of labour quarters in its premises and in the balance sheet for the year ending 31/3/2011 was shown as Capital WIP.During the financial year ending 31/3/2012 there was no addition in capital WIP due to dispute with labour and as per the explanation from management construction will start in the year 2013-14. so how the above matter should be taken care of in accounts for the year ending 31/3/2012.

Respected Members',
what can be the possible effect when an adverse report is given to a listed company? 2)What tax or legal implication the company has to face? 3)Can the company carry on its normal day to day operating activities after the report being given? 4) After all what should the next step be for the company after receiving such report?

Please Suggest...

Dear Sir / Ma'am,

If we have purchased goods from a company & they have given us a discount on that bill, although they have not mentioned the discount on the bill, but while making the payment we asked for a discount & they gave us the discount & mentioned it with a pen, nothing much.

Now in tally under which heading will the Discount recvd come in Assets??

I mean will in come under Direct Income or Indirect Income??

Dear Sir / Ma'am,

1. if a Loan is given to an employee by XYZ company then it means tht, the emlpoyee has to return the money back to XYZ company..

&

2. if an advance is given to an employee by XYZ company then also it means tht the employee wud return the money to XYZ..

So whts the difference between them?

should export sales be booked at fob value or cif value?

Sir,

I got COP but waiting for Firm Approval. this meantime i got one assignment of Society Audit. Can i give sign on Audit report on individual basis i.e COP or is it necessary Firm Name

how much money can be assumed as a capital expenditure when a fixed asset is purchased and installed in a company???

If any Director resigns during the year i.e. before completion of year, is he required to submit his disclosure of interet through Form-24AA before BOD?

Thanks & Regards.