May i know best way to reconcile the bank statement.

Can any one guide me about the accounting treatment of the FOREIGN EXCHANGE TRANSACTION? The details of the transaction are as mentioned below;

Purchase Order of Machinery
07.06.07
Euro 100
Ex. rate : Rs. 54/euro

Advance payment
11.06.07
Euro 20
Rs. 54.95/euro

LC issued
15.11.07
Euro 80
Rs. 56/euro

1st Invoice date
31.12.07
Euro 70
Rs. 57/euro

Payment against 1st invoice
18.02.07
Euro 60
Rs. 58.42/euro

2nd Invoice
31.01.08
Euro 30
Rs. 57.75/euro

Payment against 2nd Invoice
07.03.08
Euro 20
Rs. 62/euro

Erection & Commissioning Adv payment
03.04.08
Euro 5
Rs. 62.60/euro

Invoice of Erection & Commg.
30.04.08
Euro 5
Rs. 64/euro

I have recorded the payments at actual amount paid.

Now I am confused about the accounting of fixed assets that at which rate I shall account the both invoice and how to adjust the difference arising due to exchange difference?


Thanks & Regards
Rohit Boraniya

dear sir's

can any one tell me, how to obtain din number?

thanking you.

If a music artist or a band has taken up a one time venture, Income from Other Sources shall apply, if not then their income will be assesed under Income from business and profession. I would really be greatful if someone could enlighten me on the various rebates and deductions available to a professional music artist or a band under the IT act.

I Have to know that, if Interest due on TDS (TDS not deposit in time but depsoit before the end of the financial year in which TDS Arise)and Interest on TDS not Deposit in Same Financial Year, whether it would effect on Disallowance of epenses.

If a music artist or a band has taken up a one time venture, Income from Other Sources shall apply, if not then their income will be assesed under Income from business and profession. I would really be greatful if someone could enlighten me on the various rebates and deductions available to a professional music artist or a band under the IT act.

A company which was in business till financial year 2003-04 was claiming depriciation under Companies Act but stopped activities in that year and did not put its P&M to use in the financial year 2004-05. Can it claim depreciation for the FY 2004-05 and onwards.

IF yes please give me the Sec No.

Please guide me whether it is compulsory for proprietary concern to maintain their accounts on Cash basis ?

Thanks,
Abhishek Jain

Dear Sir, I had a problem in Excel 2003 , I am having fields of DATE, AND QUANTIY for doing max(B1:B30)OF QUANTITY it is showing result, but i want to show that result equalent date field which is in (a1:a30). Pl give solution.

What are the key performance indicators(KPI) normally set for finance / accounts people ?

Kindly send me if you have any documents on KPI.s

Thanks and regards,

Anil.
nkanil@rediffmail.com