Accounts queries [2588]

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Rajat

05 February 2009 at 17:02

AS16 Borrowing Cost

Are the companies forced to adopt this standard or is it optional ?

I mean if a particular borrowing cost qualify to be capitalized, can the company charge it to P&L A/c (thereby reducing the profit)? Or is it forced to capitalize it compulsorily (profit will increase then)?

Jayanta Chowdhury

05 February 2009 at 01:51

IFRS

where i can get all IFRS?

mohamed

04 February 2009 at 23:42

how to account the bonus shares in investor point of view

Dear friends,

Could anyone tell me,How to account the Bonus Share in the books of Investor?

Rajat

04 February 2009 at 19:31

Profit on sale of assets (Capital or revenue in nature)

Historical cost of asset Rs 100
Written down value Rs 75

Sold the assets at Rs 150. That means profit of 75 Rs.

I heard that out of this 75 Rs profit, 25 Rs will be credited to P&L A/c and 50 Rs will be transferred to capital reserve. Is this treatment correct?

If yes, under which AS/ASI can I read about this treatment method?

Rajat

04 February 2009 at 19:23

AS10 Sale of revalued asset

A fixed asset with historical cost of Rs 150 & WDV of Rs 100 have been revalued Rs 150 and accordingly revaluation reserve of Rs 50 has been created.

Lets assume, the asset is subsequently sold for
Situation A for Rs 175
Situation B for Rs 120

What will the accounting entry and finally where will be balance in revaluation reserve be transfered?

Rajat

04 February 2009 at 19:14

AS 10 Fixed assets

If an old Fixed asset (WDV - Rs 5000) exchanged for new machinery (fair market value - Rs 10000)

What will be the accounting treatment?

Chitra Nair

04 February 2009 at 17:26

Recharge card dealers

What if the recharge cards are purchased for Rs.100 and also sold for Rs.100 but the Company whose cards are sold, gives the dealer commission separately?

Chitra Nair

04 February 2009 at 17:19

Recharge card dealers

What if the recharge cards are purchased for Rs.100 and also sold for Rs.100 but the Company whose cards are sold, gives the dealer commission separately?

sachin gupta

04 February 2009 at 16:12

Difference between advanace and asset

Could you explain the difference between advanace recoverable in cash or kind and current assets as per schedule VI of companies act.

sachin gupta

04 February 2009 at 15:54

Difference between advanace and asset

Could you explain the difference between advance recoverable in cash or kind and current assets with items that are included in cr=urrent assets and advance as per schedule VI of companies act.