S Jananikrishna
12 September 2024 at 18:11

Gratutity Accounting in Company's books

Private Limited Company - Holds fund in LIC for Gratuity and have actuary consultant as well. Now the situation, the present obligation amount payable under LIC & Present obligation amount as per actuary consultants report are not matching.. huge variance.

is there any way to reconcile that.. we are able to match only the fair value of assets between LIC & Actuary consultants report.

Kindly help its very urgent. Thanks in advance


abhijit majumder
05 September 2024 at 12:57

Demand by suppliers of bank statement

Sir
Raw material Suppliers of our Company frequently claims bank statement from us so that they will confirm of their amount received from our end. Even though we tell them to check their account(given by them) on a particular date , instead of checking their account they still requesting the statement.
Does we legally liable to entertain such request, as it is a time taking process to entertain a large number of suppliers.
Abhijit


pardeep jindal online
02 September 2024 at 17:40

IND AS 110

company "A" holds 33% share capital of "B" . Also directors of "B" are promoter of co. "A" and "B" .
do IND AS 110 applicable on co. "A".

please suggest


Rishi Kumawat

Hi There,

Labour Cess charged under which accounting head?


D20BFS036-Harshavardini K.B
02 September 2024 at 00:40

AS 18 Related Party Transactions

Hi sir/ mam
Please clarify my doubt regarding AS18
1. Is Subsidiary's Associate is Related party the Reporting entity (i.e Holding company of Subsidiary) ?
2. Is Associate's subsidiary is related to to Reporting entity ( i.e investing entity)
3. Is subsidiary's or Associates JV is Related Party to the reporting entity?
Thankyou


K.Devan
29 August 2024 at 12:14

Tally not Opening

Kindly go through the following error occured while opening the Tally

ERROR:
Attempting to open

Error code:32


M.Ramkumar

Dear Sir/Mam ,

Due to Floods in Dec 2023 , Stocks have been damaged which are material in value and it could not be quantified as at 31.03.2024 .These stocks are covered under insurance policy . In July 2023 , Damaged stocks could be quantified and insurance claim is receivable during August.

Can we apply AS 4 & treat it as an Adjusting Event & Adjust the Assets & Liabilities as follows
1. Add insurance claim receivable and decrease from stocks
2. Balance loss to write off in P/L account
3 can we provide disclosure accordingly

Thanks in Advance


sridhar
28 August 2024 at 14:38

Provision entries of expenses

Dear sir,

Pls clear the concept : Actually : I have to pass provision Account for " Interest paid on late payment of Tds towards month of March 2024 is Paid in 27th July 2024 . Could i take provision of

Interest on late payment of Tds A/c "dr" ,
To Interest payable on late payment of Tds A/c " cr"

on 31st march 2024 or Not .
=> Tds of March 2024 payment date is 30th April 2024, But tax paid on 27 th July 2024

(How may months would be consider for calculation for f.y 2023-24 or fully expenses would be consider in f.y 2024-25 ?)


Mahesh S M
27 August 2024 at 10:16

Importance of Invoice

is it mandatory to keep invoices for all the expenses incurred in business and should i pass journal entry before payment for every expense regardless of amount?


shahzada perwez
25 August 2024 at 18:55

Int. from s/b a/c

how to make entry of interest from savings a/c in pl&b/s





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