my client has avaied a machinery laon for importing machinery but after making of payment by finance company to china no machinery was imported as the supplier disappeared and a fraud occurred.the supplier was recommended by the financing company.my client has put a case in court as no machinery was supplied.

should i show this loan as zero and show it as contingent liability?

can A manufacture of socks do trading in machinery? in addition to its original business.

Hello Sir, Internal Auditor can be a CA in practice or not. Itmeans CA in service can be an Internal Auditor. Doubt is... If he is in service does he require any permission from his employer to perform internal audit of others? or can he act as an internal auditor of his own company where he presently is in employment?

IS THERE ANY OTHER RATES ARE THERE FOR DEP UNDER PARTNERSHIP ACT.OR INCOME TAX RATE SHOULD BE FOLLOWED BUT I JOINED A FIRM THERE IS NOT IT RATES ARE USED

My query is relating to Physical verification of Inventory.

Due to some unavoidable issues we were not able to verify the same, so how should this fact be disclosed in Auditor's Report?

Should we qualify or issue EOM??

Dear Sir/Madam
Kindly provide me with the format of management Representation Letter as per New Companies Act.

compliance report under cost audit rules 2014 is applicable or not? is it cost auditor is not required for this?

while forming an opinion on Financial Statements of An Entity have 10 Joint Ventures. the auditor in his report has considered 6 out of 10 Joint Ventures., and for Four Joint Ventures has mentioned that, the financial statements have not been received. the impact could not be determined and therefore cannot be commented by us. our opinion is not qualified in respect of this matter. whether this is sufficient as per disclosure requirements of AS-27....?

As per accounting for fixed assets, it is clear that when u have credit available against the taxes paid while purchasing the said asset the credit may be reduced from the cost.. But my question is that is this relevant that there should a time gap between the purchase of asset & the date of put to use ?? Where the credit may be availed. what if the date of purchase & put to use are same.?? bcoz on that date actually u have not availed the credit but u wud claim in the coming days I.e when u wud file return.. Can any one please help me n xplain the actual concept of it..

If i had purchased an asset on say for example 1st Jan 2010 i.e FY 09-10 and now for FY 14-15 i have to apply depreciation as per Sch II nw for calculating the remaining useful life of that asset what shall be my approach? Should i take complete FY 09-10 in expired life or should i take only 3 months of that yr, i.e in short whether the actual no. of days asset used concept prevail here?