A private Co. incurred some exp. before its incorporation.which includes expenses incurred for purchase of materialetc. what accounting treatment & balancesheet disclouser should me made.....

MY FRIEND MR. HITESH REPLIED WELL ON WHY PROVIDE DEPR.
BUT I WONDER HOW MANY COMPANIES SET ASIDE THE AMOUNT SEPARATELY OR IN AN IDENTICAL WAY TO REPLACE THE ASSET ON BEING WORN OUT?
NOT MAJORITY COMPANIES.
SO THE QUESTION IS ECXCEPT TO REDUCE PROFITS AND PAY LESSER TAXES , THE REAL OBJECTIVE OF REPLACING AN ASSET ON BEING WORN OUT IS NOT ACHIEVED.
THUS EVEN THE CONCEPT OF CONTINUITY OF BUSINESS IS NOT FULLY ACHIEVABLE FOR A GOING CONCERN IF WE CANNOT FIND FUNDS TO REPLACE AN ASSET WHEN DUE.
IS NOT IT TIME TO MAKE IT MANDATORY TO SET ASIDE DEP. PROVIDED IN SEPARATE OR IDENTIFIABLE WAY TO COME TO OUR rescue?
regards
R.V.RAO

we have taken security deposits while giving canteen premises and some kitchen equipments. Now the contractor's terms is over and we have recovered some amount from him for the missing items. The balane amount is paid back. The question is
1. The recovered amount is debited to security deposist account and credit is given to fixed asset Account.
2. While the missing item,s cost has to be removed from fixed asset account, a Journal entry debiting write off account and crediting fixed asset account is proposed.
By doing so, two credits are given to fixed assets are given. Please clarify.

What Is deffered tax libilities and what is the treatment of account

hi why we are charging depriciation on assets

I am a housewife here in india, i am not indian citizen , i am holding foreign passport,can you suggest me what facilities are available to PIO, and how can we make pan card, how can we make our income tax file, and e verthing that we should do for living in india.

Whether can we capitalize demurrage charge to imported capital items ?

Hi

Please explain the difference of General Reserve with Reserve and Surpluse

hi,
i am icwa student. currently i am doing inter stage 2 . in stage 2 one paper is management accounting-performance management. the chapter "transfer pricing"in this paper which i am finding very difficult to understand. my question is which books should i refer for this perticular topic?
please suggest me 2to 3 books for this paper & topic

thanking you,

hrishi

what should be the date of which exchange rate is to be taken while converting export sales in indian rupees?whether it should be the rate as on the date of bill of lading or it should be a rate mention in shipping bill(exchange control copy)?pls clarify

my second querry is regarding booking of sales .sales should be booked at FOB value or it can be booked at CIF value.is there any statutory req.regarding the booking of sales at FOB or CIF?