Accounts queries [2682]

All Resolved Open

Sachin Kataria

16 July 2008 at 17:45

depreciation treatment of asset valued less than Rs.5000

Hi all
please tell me the treatment of assets of Rs.5000 or less under company law for following:

1) Do we need to apply this concept on initial Build out capital expense for a new site?

2) Suppose we have bought 1000 chairs of Rs.4800 each for setting up a new site, do we need to expense it off in a single year.
i have a similar query for the bulk purchase of Headsets and telecom equipments individually costing less than Rs.5000 purchased for setting up a new site?

santhosh

16 July 2008 at 16:20

about the debtors and creditors reconsilation

what is meant by the debtors and creditors reconsilation?

sai kiran

16 July 2008 at 15:52

Amalgamation

We are about to finalise 31.03.2008 balance sheets of all the companies. In this situation, if the court orders for amalgamation w.e.f., 31.03.2005, then what shall be the base balance sheet of transferor company to include in tranferee company. If 31.03.2005 is the base balance sheet, what will be the effect of transactions occurred during the period 01.04.2005 to 31.03.2008

Ramesh Konapure

16 July 2008 at 11:04

finalisation

what are the account finalisation points of propritorship as well as company?

s.lohani

15 July 2008 at 21:07

Non integral acc. system

1. why is balance sheet not prepared in this system?

2. " non cost transactions are fully recorded by this system". what does this sentence mean and signify?

3. Why do we have to reconcile profits in this system?

s.lohani

15 July 2008 at 21:06

Non integral acc. system

s.lohani

15 July 2008 at 21:05

Non integral acc. system

Pratheej

15 July 2008 at 15:57

Accounting Standard

Coul someon pl temme a good book on "Commentary on Accounting Standards" where i can get d interpretation in lucid & simple language...

Abhishek

15 July 2008 at 15:36

Penalty on Late return filing related to last year

We made a pymt of commission of Rs. 250000/- on which forgot to deduct tds.

Now the transaction is been caught. On this we have to deposit TDS alongwith interest for the period.
Also the tds return is to be filed, which is also delayed and penalty has to be paid.

Question is, in which financial year this interest & penalty charges are to be booked as pertains to transaction related to last year..