Sir, There is a little bit of confusion regarding applicability of IND AS and AS GAAP on entities. does IND AS replace AS so far as Companies are concerned in Financial reporting.? Please answer as I am new to the topic IND AS. THANKS.
Answer nowhello sir, my query is that which accounting standards indian entities are required to follow? either IFRS or ind AS.
Answer nowDear Experts,
Date of Incorporation of the Company is 25/02/2016, date of opening bank account is 04/04/2016. Director have deposited the money on account of share capital on 05/042016. I want to know 1) Whether I have to record share capital when i am preparing the balance sheet of f.y. 2015-16, under the head issued, subscribed and paid up capital ?
2) If i have to record then what will be the journal entry as money is given by directors on 05/04/2016 i.e in next financial years. Kindly resolve this query as soon as possible.
Dear Experts, kindly guide me in following issues 1. Date of incorporation of the company is 25/02/2016. Is it mandatory for Company to file income tax return under income tax act and Annual Return with Roc. Though there is pre operative expenses only. 2. As on 31/03/2016 the Company doesn't have any bank account. So the directors have paid the amount of share capital in f.y.2016-17. So question is that whether i have to show the amt of share capital in balance sheet of f.y.2015-16. If Yes what will be the entry? How to represent it in schedule to balance sheet. 3. What will be last date of AGM? And filing Annual return since this will be First AGM and First Return of the company. plz guide.
Answer nowA company is entering into an 8 year rent agreement for factory building. Monthly rent is payable. Stamp duty of 10Lacs, calculated as a percentage of average annual rent is paid on registration of rent agreement. Whether it is to be capitalised or treated as expense?
let's take an example "we as a firm paid hotel bills for rs 10000 from bank account on 25.03.16, for petrol 2000 in cash on 10.04.16 some other exp rs 1000 also in cash on 12.04.16. And now raised a bill on 15.04.16 to the client totalling all these rs 13000. It was reimbursed by him on 30.06.16. Please tell me the journal entries.
Answer nowSir suppose if ITT is held in the month of feb 2017 , can i get it registered in advance 2 or 3 months before ?
Answer nowplz any one suggest me best teacher for advance account in laxmi nagar except praveen sharma
Answer nowkindly name the websites where I can find difficult journal entries that are used in daily life of accountant to settle the accounts
Answer nowOne govt company prepare monthly P&L account & doesn't record "security charges" in the month of October. But in P&L account of November record earlier exps as well as exp of November........ Does it affect matching concept..? Is it right or wrong...?
Answer now
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