I have purchased a watchdog for the safety of my property. So, what should be the accounting treatment? Should it be treated as Fixed Asset or Live Stock or deffered revenue expenditure? Please give the reason too. Also, the treatment of charging it to Profit & Loss A/c. Please reply as early as possible on sabir_bavani786@yahoo.co.in
Thank You.

Dear all
Journal entry for discount received is

Party(Creditors) A/c Dr.

To Discount Received A/c

Creditors account is a personal A/c, Personal A/c's principle says
"Debit the receiver, Credit the giver"
Now My question is Why we are debiting the parties A/c?(as per the principle why we are not crediting the same)

Regards
Ravikumar r c
Email:ravikumarrc@gmail.com

What are the items of cost for which Activity based costing would be useful?

i have been trying lot to find the correct way of accountin futures & options entry .. still didnt find the standard accounting entry ..

So pls request you people to hep me in this regard.

Even i want what entry to be passed in tally for ipo allotment ...

Can anyone please let me know the following about hedging of receivables ?

1) Hedging process:
( including practical aspects like forms / challans involved, declarations ,if any, to be given ,who and how the rate of exchange rate at future date determined etc.)

2) Costs involved (the basis on which such costs are calculated)

3) Accounting entries involved.

4)Disclosures,if any, to be made.

Thanks .

Anil.

My orgainistion is registered under society's Act and non-profit oriented and receives govt.grants. The govt.has given land free of cost. The members of the society are nominated by Govt. Recently the Accountant General personnel conducted audit of our accounts. The pointed out that :

1. The land has to be valued at market price and shown in the books of accounts where as we assigned Rs.1 value as it is given free of cost.

2. Similarly two buses were given by one of the PSU free of cost and shown At Rs.1 in the books where as they wanted to show at depreciated value from the date of purchase.
Please clarify.

Please could you tell me any institute where i can get good practical knowledge of tally 9 as it is difficult for me to enter the job market without it

Respected seniors,
Plz help me regarding these questions,

My company (ABC ltd)purchase some gift items from XYZ Ltd and
1.Paid excess amount against the bill
2.The XYZ Ltd return the excess amount after some days and one more thing I don't want to maintain the the XYZ's ledger

So, what will be the accounting entry for these tranjections.

Needs only experts opinion
Thanks in advance.

What is accounting standard? How many accounting standard are there and at present which standard is in used?

what is the benefit of this?

Please provide this information urgently.

thanks & regards,
pinak
pinakaries@yahoo.co.in

Dear sir,

kindly , guide me as how to account for
future exchange traded contracts.

thanks