if mr. X, have purchased some goods from supplier Y, and mr. x made excess payment of its bill, and extra money can not be recovered from mr. y, then what is the treatment of accounting for the same, and mr. y is not ready for give any bill against extra payment.

can excess money paid be adjust against any other allowable expenses, if yes then give a name of such allowable expenditure..

which option is better to organise the file in the better ways ?


1. cash expenses file
it will contain all the expenses are paid in the cash

or

2. file maintain by exp wise

it will contain all the cash plus cheque exp with journal voucher

AS PER NEW REVISED SCHEDULE 6 , PRELIMINARY EXPENCES WILL NOT BE SHOWN IN BALANCE SHEET FOR TH F.Y. 2011-12 THEN WHAT TO DO WITH PRELIMUNARY LYING WITH PREVIOUS BALANCE SHEET

Can a chartered accountant holding full time COP sign balance sheets and issue audit reports in his individual name i.e without taking any firm name or FRN as such??

Hi i am doing a audit of a company... that is public limited company... And i have a doubt regarding one party who is a debtor.... I think he is a related party... and directors are not disclosing it to me... I have searched MCA site and found its CIN number...
Company name is PARAS TECHNOLOGIES LTD and CIN No is U72200AP1994PLC017349...
Please provide me with its director list... Pls pls as early as possible...

Dear sir/Madam,
How the auditors remuneration is calculated is there any provisions in COMPANIES ACT regarding remuneration.Is auditors remuneration depends upon the turnover or else on any value please clarify me

( 1 ) An individual running business in Financial Year 2011-12 has sales of Rs. 58,00,000/- but he has not shown profit upto 8% instead he has shown profit of Rs. 2,28,000/-.... so is audit compulsory to him for Assessment year 2012-13..??

( 2 ) If in above question if audit is compulsory will deduction of TDS from next year compulsion to them..??

Dear Sir,

We have a very genuine and authentic idea/plan(s) for starting a MLM business. Mostly it is observed that these types of companies start and wind-up with heavy losses and finally they have to run away with publics money. But in our case this is not the scenario.

We are private limited company based in mumbai and having fanancial related products such as wealth management, fund management, portfolio management, insurance (domestic as well as overseas), loans, demats, tax saving bonds, infrastructure bonds, etc etc..

But the product we want to introduce in this multi-level marketing does not pertain to these financial products. It's a unique product and most attractive to everyone. And therefore we aim for the longest time to sustain in the market, as far as the people doesn't stop us, that would be our limit.

But the apprehension is, we have a product, knowledge, and everything. But we do not know what are the legal documentations required from the governing bodies. Basic documents such as VAT/CST no. are already obtained. But apart from that what other documents are required to start this MLM scheme, also if you can let me know the procedure for the same, it would be really helpful.

Most important is, obtaining of legal documents? Certifications? Permits? Etc. How to?

Please be so kind to give us the valuable response, it will be highly appreciated.

Thanking you.

Regards,
True Business Person.

Should Advances given to creditors be reinstated as on 31st March. Creditors having debit balances as on 31st March should be reinstated?

Dear All,

If a C.A is working full time for a CA firm but not as salaried employee but as an individual professional and is holding a full time COP, can he sign an Audit Report on behalf of the firm, or he needs to be partner in the firm to sign it?