SIVASIVA (FCA, Future CA) (4935 Points)
18 October 2013my dear friends, I need one advice?.
1. Valuation topic in Financial Reporting - i used to be thorough. however, in my past attempts, it is not coming in exam paper for a good marks.
2. Say it is being test for only 8 marks, or even sometimes 4 marks.
3. On this premise, can any one please guide me, What is the Importance of this topic in Financial Reporting paper.
4. I also, believe, this Valuation topic is tested in SFM....?
Suresh Chandra
(Manager - Accounts)
(206 Points)
Replied 18 October 2013
Dear Sir,
In our company one employee is suddenly terminated due some worng work. management decided to pay the salary for the month with deductions and one and half month gross pay without deduction of PF and etc.
please clarify the below points:
1) the provision regarding Sudden termination
2) accounting entries for the above transactions (One and half month gross salary with out deduction and account head for the transactions)
3) tax implication for company end
Thanks,
-Suresh
CAclubindia
