A service unit recieves back certain inventory but which is not the intended one.
So we need to block the said transaction from payment in Oracle.
I believe revenue cannot be reversed.
What accounting entry should be passed for invetory receipt such that customer balance is not increased.

Sir,

What is Concept of Debit Note and Credit Note. I am confused that if I Check the Purchase and see the party has been debited so, i requied debit note or Credit Note and panic created in sales.

Thanks

1.As per AS compendium only AS 1,4,6,7& 10 are compulsary .Whether other AS are mandatory on the basis of scope specified in them?

2.Whether AS other than mandatory are applcable to Charitable organisation.?
As per AS Compendium AS are applicable to enterprise but it does not talk about the objective of enterprise.Hence,even if a charitable organisation carried on a business activity it is not exempted from AS.BUT WHETHER AS OTHER THAN MANDATORY LIKE AS 15,19 ,29 ARE APLLICABLE TO SUCH ORGANISATION

Whether Guidance note on Recognition of revenue by real estate developer issued by I.C.A.I. 2006 is withdrawn?
If Not whether it is applicable at present?

Dear All,
Pls let me know the contents of annual reports in brief of listed compnies and tips to interpret to annual reports from investment perspective.
Thanks.
Mukesh Chudiwal

Is it necessary, that only assets(newly purchased) above Rs5000/- be carried forward, as an asset, if yes, can I have some references to it?

Sir,Madam
I want to know what is leasehold property.

what is the definition of scrap???????

how should we determine that any material lying in the godown at the end of the year is scrap or closing stock???

suppose that i m a dealer in cloth, i purchase 100mm cloth out of which i use 95mm for production and i want to consider the other 5mm as scrap but the income tax officer says that it should be considered as closing stock of raw material

so what should i consider the 5 mm cloth (scrap or closing stock of raw material)????

Dear Sir,

I want to know the what accounting entries is to be passed in the books of accounts for the Purchase of stock bills of any vendor related to 31/3/08 is received in april 08 bill dated 24/04/08


Regards

Ravi Konda

can we capitalize the life time tax on the purchase of car