The Company has received Rs. 20 crore against fixed asset as Rs. 10 crore, Rs. 5 crore against the inventory and 5 crore against operating expenses. The Compensation was paid against non perfromance of certain activities for which the above assets we purchased and expenses were incured. The assets and inventory and assets is still with the company and the compensation doesnot include the transfer of the assets.The agreement is the compensation agreement and the company has not to pay any of the amount again in the future.

Please guide on the issue of accounting treatment of the same asap. Please guide me even to any guidance from ICAI regaridng the same

Please let me know what one means when he/she says "Balance Sheet Account reconciliations" are to be done?

Holding Co is preparing accounts in USD and Subsidiary is preparing accounts in Euro. The subsidiary have borrowed USD 70 Million Loan from HSBC and they have recored in their books considering the exchange rate on transaction which is amounting to 69.8 million. While consolidating the accounts, What is the amount to be considered in the consolidated accounts. Can we take directly USD 70 million or as usual convert Euro 69.8(as in the books of subsidiary)as on year end.

Recentlly I came accross an job vacancy advertisment for the post of Accounts Manager which wanted the candidate to do "flux analysis" along with taking up other responsibilities .

Please let me know what is Flux analysis.

Thanks.

For calculation of Deferred tax relating to timing difference arising out of fixed assets, do we take the difference between WDV as per books and WDV as per Income tax; or do we take the difference between depreciation as per books and depreciation as per Income tax act.

if partners decide to charge interest on drawings and give interest on capital in partnership deed but no rate is decided, what rate should be taken?

Dear Friends,

Can you please explain the transfer pricing - concept,method and accounting treatments

Thanks & Regards
P.Saravanan

Sir,

Can u please give me at what rate TDS deducted from a company & noncompany

Can any one tell me about Conventional Accounting?

PLZ guide me........... exchange differences arising on repayment of liabilities incurred for the purpose of acquiring fixed assets, which are carried in terms of historical cost, should be adjusted in the carrying amount of the respective fixed assets or not ?