Can the auditor sign the audit report of the company, the director of which is in full time employement in the firm in which the auditor is a partner?

if we take loan before 1 april 1999 and spent it to repair a existing house and on 4 th april 1999 i took a fresh loan for constructing upper floor of same house.

My question is this as considering to above said information of what amount of deductions should i claim and what the suitable reason for this?

option Ist 30000

or

option 2nd 15000

or

option 3rd 180000

i am pcc student having my attempt due in may 2009. how should i start preparing so that i can clear pcc in my first attempt

Tell me briefly about Cash reserve ratio.

In Companies Act,1956 , as we all know that u/s 166 every company requires to hold the A.G.M. Now the questions is what type of voting are there at the A.G.M. e.g. 1)Show of hand
2)Demand Poll
3) Resolution thru PostaL Ballot
etc.( situation wise)
I want to know the voting rights of an individual shareholder at the meeting i.e. proportionate to holding or only one vote irrespective of holding.

Also give some note on chairman like his voting rights , he must be director or not , his term of appointment etc.

Should Depreciation be provided in th Books by the LESSOR of a Finance Lease Transactiion? If so, will IT- ACT also grants it?

Same Question- What about in OPERATING LEASE

What about in case of pure Hiring of machinery?

A Company's land is sold which generates huge profit. Since land is not subject to Depreciation, can the entire profit ( Cost minus sale price) be distributed by way of Dividends to Share holders ? .

Incidentally, kindly note that the ICAI's EACO ( refer Chartered Accountant - July 2000 issue) is to credit the entire sale proceeds to the P & L Account, the above said profit csn not to be included for computing profit under under Sec. 349 (3)(d) of the Companies Act, 1956 for payment of commission to the managerial Commission.

Repeatedly, what about paying Dividend on the profit on sale of Immovable property?

Hi,

I did't  clear any group of PE-2 held in May2008  so I want to appear  for the same in extended attempt which will be held in Nov 2008 and May 2009 ..kindly advise can i directly appear for the exam  or do I have to  convert   in to PCC. Kindly Assist.

God bless

Shwetha .

Hi all,

Suppose Mr. X is an employee of ABC Co. Ltd. The Company has a movie camera (Original cost Rs.60,000/- and W.D.V Rs.50,000/-)and the same is a fixed asset as per books of accounts of the Company. Mr. X has given charge to take care of the movie cam. One day the same has been reported as lost by Mr. X to his employer. Mr. X wants to compensate for this. Accordingly, he has purchased a new movie camera (having higher technical advantage than the previous one) without informing his employer at a cost of Rs.35,000/- and collected the bill in the name of M/s ABC Co. Ltd. He then prays before the management to accept this. Now, my questions are:
1. Would it be right for the ABC Co. Ltd. to accept proposal of Mr. X?
2. If ABC Co. Ltd. accepts the proposal of Mr. X and takes possession of the new movie camera then what accounting entry is require to be passed?

Please reply in detail with correct accounting treatment and figures in respect of above situation.

In a partnership question, there is loss due to insolvency of one partner.
Nothing has been given about the ratio, in which the loss is to be borne by remaining partners.

Then, whether
a) loss will be borne in PSR by partners or
b) as per Garner vs. Murray

Should the student make note of it or