hi! i want to know which date to b treated as capitalisation date,i mean when we receives an assets but transfer it to stores and some installation cost is yet to b incurred and after some months we install it so like installation date is 1.4.08 and purchase date is 1.11.07 and store receipt voucher date is 15.11.07.
can we do so that consider aasets in book at the time of purchase and start considering for depreciation at the time of installation.
please clarify with the reference of AS-10 & AS-6

Sir/ma'm,
what things as an auditor should be kept in mind while going through MOA & AOA of a large sized listed company?

Whether as per revised AS 15 it is mandatory to get certificate from actuary in respect of "Leave Entitlement"?
Case - Employees are allowed 25 PL in a year & they are allowed to accumulate upto 75 only otherwise it will lapse.
Since it is allowed for short term whether actuarial valuation is mandatory or mere provision in books will be comliance of AS 15.

Dear All,

Pl. clarify :

Whether the amt paid to MSEB for sanction of additional power supply (other than deposit) should be capitalized ?

Amit & Anil are partners of a partnership firm Sharing profits in the ratio 5:3 with capital of Rs. 2,50,000 & Rs. 2,00,000 respectively. Atul was admitted on the following terms: Atul would pay Rs.50,000 as capital and Rs. 16,000 as Goodwill for 1/5th share of profit. Find the balance of Capital accounts after admission of Atul.

a) 2,30,000:1,88,000:50,000
b) 2,20,000:1,82,000:66,000
c) 2,92,500:2,25,500:50,000
d) 2,82,500:2,19,500:66,000

Answer - a) as per ICAI Study Material.

Please explain how the old partners capital can be decreased on admission, if the answer given is correct.

Hello All,

I wanted to know, whose photo would be fixed on form 49 if pan is applied for a new born, father being a representative accessee.

Also, whether income of the individual so applied would be clubbed with parents?

What is the case if investment is made in PPF account? I mean since individual limit is 70,000/-, then can parent as well as kid can invest 70,000/- each in PPF though different PAN or not.

Regards,
Rahul

Hi I am Bhavik Shah. I have completed my 1 year of articleship & I will be appearing for Pcc exams in May 2009. Is it necessary to take Transfer from your Firm after completing your 1 & half years of articleship & passing the Pcc exam. or is it binding on us to continue under the same firm till we get transfer.

I am a final CA student. I have completed one&half years articleship in my firm.My attempt is May 2009. I asked my sir to grant me transfer but in reply he said that all he could do was to give me termination. I wanted to know the meaning of termination, the consequences of it as well as please suggest me remedial measures against it.Will my articleship duration till date be counted or not? Please giude me

A business man is considering investing in business that involves a fixed exp towards fixed assest and steady outflow of cash for working capital. This business will yield a certain amount of money every year. In first year the yield of return will be less. In next all years it is fixed.

How to evaluate whether to invest in this business or not? What all areas needs to be checked?

Thanks

From audit point of view please tell me how i check the details when any import or export is done i.e.
1. what is letter of credit
2. bank guarantee
3. other relevant points in export & import

please tell me in detail & from the basic