How we treat creditors ''unclaimed credits'' in each fiscal year in P & L.


S.K.

what is scope of accounting outsourcing
from where i can get such type of work

We have imported some raw materials and capital goods in USD.We need to book them in our books in INR.I need to know the day of which conversion rate i can use to book the entry. I am considering on two options:
1)The conversion rate of the day on which we received the material in our factory premises.
2)The conversion rate mentioned in the bill of entry.

Please suggest,which option is right.

RESPECTED SIR,

WHAT IS THE MEANING OF "difference is capable of reversal in subsequent periods", "Permanent Difference", "Temporary difference", "virtual certainty" & "real certainty" IN ACCOUNTING STANDARD 22.

REGARDS,

PRABHAKAR

Can any 1 sugesst me a best book for PCC accounts?

There is a machinery which has been written off subsequently.The machinery is no more depreciable.But the Machinery has been still put to use in production.It is the only machinery used for production.Can a company charge depreciation on such machinery? According to Companies Act,1956,a machinery which has been written off upto 90% of its Historical cost is said to be written off.

I need clarification regarding accounting treatment for costs incurred such as flooring, roofing, first time water proofing and other construction expenses incurred on a rented building (not on lease) used by a company for business purposes.

Whether such costs are to capitalized as building or are they to be expensed as repair and maintenance.

I know for a fact that they are to be included in the Block for Buildings under the Income Tax Act, but how is it to be treated under the Companies Act and whether any accounting standard is relevant for this purpose?

Can they be treated as miscellaneous expenditure and amortised over say 5 years?


Thanks

An assets is recieved back from comercial use as it is not performing properly but its date of instalation and historical cost is not available.how accounting is ensured.

what is the accounting treatment for carbon credit?

Can anyone provide me with the details of accounting procedures for repossessed vehicles and the control process involved therein. Also, the impact of the same on NPA and Closing valuations.